B CAR News

EU fined Scania €880m, saying it had participated in a 14-year long cartel to fix prices

Five other truck companies settled in July last year for a record €2.9bn cartel fine, but Scania, which is owned by VW, denies any wrongdoing and says it will appeal the EU’s decision. The EU alleges that the companies colluded from January 1997 through January 2011 to coordinate prices and timing of the new emission-reducing technology of medium and heavy trucks.

The cartel decision has opened the manufacturers who settled to damages claims from trucks buyers around Europe. There are 600,000 haulers around the continent, most of which are small businesses.

Fines to the other members of the group were reduced between 50 to 10 per cent: Volvo/Renault paid €676m, Daimler was fined €1bn, Iveco’s levy was €465m and DAF’s bill was €753m.

The five other cartel members’ charges were reduced based on when they applied for leniency and their level of cooperation with officials during the settlement process. As the whistleblower in the case VW-owned MAN avoided its entire €1.2bn penalty.

 

 

 

 

 

 Five other truck companies settled in July last year for a record €2.9bn cartel fine, but Scania, which is owned by VW, denies any wrongdoing and says it will appeal the EU’s decision. The EU alleges that the companies colluded from January 1997 through January 2011 to coordinate prices and timing of the new emission-reducing technology of medium and heavy trucks.

The cartel decision has opened the manufacturers who settled to damages claims from trucks buyers around Europe. There are 600,000 haulers around the continent, most of which are small businesses.

Fines to the other members of the group were reduced between 50 to 10 per cent: Volvo/Renault paid €676m, Daimler was fined €1bn, Iveco’s levy was €465m and DAF’s bill was €753m.

The five other cartel members’ charges were reduced based on when they applied for leniency and their level of cooperation with officials during the settlement process. As the whistleblower in the case VW-owned MAN avoided its entire €1.2bn penalty.

 Five other truck companies settled in July last year for a record €2.9bn cartel fine, but Scania, which is owned by VW, denies any wrongdoing and says it will appeal the EU’s decision. The EU alleges that the companies colluded from January 1997 through January 2011 to coordinate prices and timing of the new emission-reducing technology of medium and heavy trucks.

The cartel decision has opened the manufacturers who settled to damages claims from trucks buyers around Europe. There are 600,000 haulers around the continent, most of which are small businesses.

Fines to the other members of the group were reduced between 50 to 10 per cent: Volvo/Renault paid €676m, Daimler was fined €1bn, Iveco’s levy was €465m and DAF’s bill was €753m.

The five other cartel members’ charges were reduced based on when they applied for leniency and their level of cooperation with officials during the settlement process. As the whistleblower in the case VW-owned MAN avoided its entire €1.2bn penalty.