A group of European truck manufacturers, account for a large share of the market, reached agreement with the European Commission to pay a record fine of 2.93 billion euros, after they admitted to have acted in cartel for 14 years.
the German manufacturer MAN and Daimler, Volvo and Renault (both brands of trucks are the Swedish group Volvo), the Italian Iveco and Dutch DAF started combine vehicle prices in 1997, a practice that continued until 2011. Daimler is the most will pay with a penalty slightly above the billion euro (values already applied include reductions under the agreement). MAN denounced the cartel and was therefore spared any payment (otherwise would have to pay 1.2 billion).
The European Competition Commissioner, Margrethe Vestager, said in a statement “not acceptable” that those brands, which account for about nine out of ten medium and heavy trucks in the community space, “were part of a cartel rather than compete with each other. ” Scania, Volkswagen Group, is also being investigated, but it was not covered by this agreement with the European regulator.
According to the Commission, the marks matched the prices of trucks off the plant, which then suffered changes before reaching the final consumer. Also woke up the timetable for the introduction of exhaust emission control technologies and decided to move on to the consumer the costs associated with these technologies.
In the early years, between 1997 and 2004, there were meetings between managers of the various companies, “sometimes the trade margin of the sector and other events,” explains the Commission. From that year, “the cartel was organized by the German subsidiaries of truck manufacturers, with participants usually to exchange information electronically.”
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