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EU: Commission pumps the breaks on truck cartel

 |  November 20, 2014

The European Commission has reportedly notified several truck producers that they are under investigation for alleged cartel behavior.

In a statement Thursday, the regulator announced a probe into the truck-making industry over “concerns that certain heavy and medium duty truck producers may have agreed or coordinated their pricing behavior in the European Economic Area.”

While the Commission declined to name the companies involved in the case, Volvo, Daimler, Volkswagen-owned Scania, MAN and Iveco parent company CNH Industrial have all reportedly confirmed that they have received a statement of objections from authorities.

Some companies are warning investors of possible fines, and European Commissioner Margrethe Vestager commented on the case, noting that she believes it will be difficult to resolve the dispute through mere settlement fines.

In a news conference held in Brussels, the competition chief added that “keeping the cost of road transportation high has a damaging effect on the rest of the economy.”

Full content: Reuters

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