A PYMNTS Company

Brazil: Cade to probe car parts cartel

 |  July 7, 2015

Brazil’s antitrust watchdog has opened an investigation into a suspected cartel involving local units of Japanese auto parts maker Takata Corp. and Swedish-American rival Autoliv Inc., citing potential price collusion in safety belts, airbags and steering wheels.

Cade, as the regulator is known, said late Monday that evidence has been found of anti-competitive practices between the companies, including sharing manufacturing and financial information in order to better divide the market.

A press representative for Takata Brasil SA said the company is taking all necessary measures in relation to the case and will cooperate fully with authorities.

Full content: Auto123.com

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.