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Spain: Global automakers probed for price-fixing

By  |  September 4, 2013

Spain’s competition regulatory announced Wednesday an investigation is being launched into some of the world’s largest car makers, including Toyota and Volkswagen, for allegations of price-fixing.

The watchdog, known as the CNC, named Renault, Peugeot, General Motors, Nissan and Ford, as well as the two abovementioned companies and others, in their probe following complaints that the firms shared market-sensitive information and colluded to fix prices.

In a statement, the CNC described the allegations of “serious.” The companies face a fine of up to 10 percent of total annual turnover in Spain.

The investigation will target the companies’ Spain-based distributors.

Full Content: Reuters

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