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Spain Fines Carmakers for Price Fixing
Spain has fined 21 carmakers a combined €171 million for conspiring to fix prices on cars, repairs and replacement parts, Automotive News reports.
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Spain has fined 21 carmakers a combined €171 million for conspiring to fix prices on cars, repairs and replacement parts, Automotive News reports.
The country's National Commission for Markets and Competition (CNMC) did not fine Volkswagen Group, whose complaint about the practice triggered the investigation. The agency previously fined 45 Hyundai, Opel and Toyota dealers for colluding to control prices. CNMC has been investigating the Spanish auto industry for two years.
Industry group ANFAC insists competition among car brands is strong in Spain. It points to a consumer organization survey that described car pricing in the country as "definitely liberal," with variations as great as 30% among dealers and brands.
Targets of the latest round of CNMC penalties have two months in which to appeal the agency's findings.
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