Germany: New scandal hits the auto industry

The EU’s antitrust regulator, the European Commission (EC), admitted on July 22 that it has launched a new investigation into Germany’s automakers.

The probe comes after allegations surfaced that Daimler, Volkswagen and BMW colluded to manipulate the prices of car technology, ranging from brakes and clutches to emissions systems.

Should the allegations of a cartel prove true, the investigation could lead to billions in fines.

It had already been clear after Volkswagen’s admissions 2 years ago that car emissions had been manipulated, but the claims of cartelization shine a new light on things.

The EC only admitted to an investigation and gave no further details, merely saying, “It is premature at this stage to speculate further.”

Full Content: The New York Times

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