Mexican Media Brands
EU Fines Commercial Truckmakers €2.9 Billion for Price Fixing
Five commercial truckmakers have agreed to pay a combined €2.9 billion ($3.2 billion) for conspiring to fix prices on medium- and heavy-duty commercial trucks for more than a decade.
#legal
Share
Five commercial truckmakers have agreed to pay a combined €2.9 billion ($3.2 billion) for conspiring to fix prices on medium- and heavy-duty commercial trucks for more than a decade.
The cheating, which went on from 1997 to 2011, affected the retail prices of about 90% of commercial trucks sold in Europe during the 14-year period, according to EU Competition Commissioner Margrethe Vestager.
Daimler AG received the largest fine: €1 billion ($1.1 billion). It was followed by DAF at €753 million ($829 million), AB Volvo and and Renault at €670 million ($738 million) each and Iveco €495 million ($545 million).
Volkswagen AG’s MAN truck unit escaped a €1.2 billion ($1.3 billion) fine by helping investigators. MAN’s sister division, Scania, is contesting the investigation’s conclusions.
RELATED CONTENT
-
Apple Engineer Accused of Stealing Self-Driving-Car Secrets
For the second time in six months, a Chinese nationalist working on Apple Inc.’s Project Titan autonomous car program in California has been charged with stealing proprietary data.
-
Uber Settles with Family of Woman Killed in Self-Driving Car Crash
Uber Technologies Inc. has quickly settled on damages to the survivors of a woman killed in Tempe, Ariz., last week by an Uber test vehicle operating in autonomous mode.
-
VW Is Storing Nearly 300,000 Repurchased Diesels in U.S.
Volkswagen AG has stashed about 294,000 diesel-powered cars across the U.S. that it bought back from customers after admitting the vehicles were rigged to evade U.S. emission laws.