Freight News, Road

Commission hits truck-makers with €3bn fine

[ July 19, 2016   //   ]

The European Commission fined truck-makers Volvo/Renault, Daimler, Iveco, and DAF a record €2.93 billion for breaking EU antitrust rules. It said the companies – which account for 90% of the European heavy truck market – had colluded for 14 years on truck pricing and on passing on the costs of compliance with stricter emission rules. Another manufacturer, Germany’s MAN was not fined as it revealed the existence of the cartel to the Commission. All companies acknowledged their involvement and agreed to settle the case.