“Those that acknowledged their involvement have agreed to settle the case. The deals related to medium- and heavy-duty vehicles” THE EUROPEAN Commission (EC) has slapped the region’s top European truckmakers with record fines of €2,926,499,000 (A$4.3 billion) for cartel activity over 14 years related to truck pricing and coordinating emissions costs.
The EC found that MAN, Volvo/Renault, Daimler, Iveco, and DAF broke European Union antitrust rules, however the collusion was not aimed at avoiding or manipulating emission standards.
The breakdown includes: Daimler – €1,008,766,000; DAF – €752,679,000; Volvo/ Renault – €670,448,000; Iveco – €494,606,000.
The companies are said to have already made financial provisions for the finding.
The decision “follows the sending of a Statement of Objections to the trucks producers in November 2014,” the EC says in a statement.…
