Antitrust: Commission fines truck producers € 2.93 billion for participating in a cartel

On the 19 July 2016 the European Commission announced that they had concluded that MAN, Volvo/Renault, Daimler, Iveco, and DAF had broken EU antitrust rules. These companies had colluded on the pricing and on passing on the costs for meeting environmental standards to customers for 14 years (1997 – 2011). Because of that they were imposed a record fine of €2.9bn.

This decision follows the sending of a Statement of Objections to the trucks producers in November 2014.

• Primary Source

European Commission: DG Communication: RAPID: STATEMENT/16/2585, 19.07.16: Statement by Commissioner Vestager on decision to fine truck producers €2.93 billion for participating in a cartel http://europa.eu/rapid/press-release_STATEMENT-16-2585_en.htm

EurActiv, 19.07.16: Commission imposes record cartel fine on truck producers http://www.euractiv.com/section/transport/video/commission-imposes-record-cartel-fine-on-truck-producers/

Politico, 19.07.16: Truckmakers hit with record cartel fine http://www.politico.eu/article/truckmakers-hit-with-record-cartel-fine/

BBC News, 19.07.16: Truck firms hit with record €3bn EU fine for price fixing http://www.bbc.co.uk/news/business-36832521

Deutsche Welle, 19.07.16: EU fines truckmakers for 14-year cartel http://dw.com/p/1JRQR

EUObserver, 19.07.16: EU hits truck firms with record €3bn fine https://euobserver.com/economic/134406

Politico, 19.07.16: Margrethe Vestager’s green shocker http://www.politico.eu/article/margrethe-vestagers-green-shocker/

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