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VW’s Supervisory Board to Convene Over EU Conspiracy Probe
Volkswagen AG’s supervisory board has scheduled a special meeting on Wednesday to discuss the European Commission’s investigation into possible price fixing among German luxury carmakers, a source tells Reuters.
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Volkswagen AG’s supervisory board has scheduled a special meeting on Wednesday to discuss the European Commission’s investigation into possible price fixing among German luxury carmakers, a source tells Reuters.
The EC announced the probe on Saturday. The commission says it is looking into allegations that BMW, Daimler and VW’s Audi, Porsche and VW brands acted as a cartel, colluding for more than a decade on component pricing and technologies, including those associated with diesel emissions.
Details about the allegations are few. But analysts say any new investigation will further sully the German auto industry’s reputation for engineering and technical prowess.
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