The EU Commission’s investigation into a suspected cartel among producers of heavy and medium-duty trucks has concluded with a record breaking fine of € 2.93 billion. What does this mean for you?
The EU Commission Decision: Key facts
In a settlement decision of 19 July 2016, the European Commission (the Commission) found that MAN, Volvo/Renault, Daimler, Iveco, and DAF broke EU competition law. Over the period of 14 years, these companies have colluded on (i) truck pricing, as well as (ii) timing and passing on the costs of compliance with stricter emission rules. This decision relates specifically to the market for the manufacturing of medium (weighing between 6 to 16 tons) and heavy trucks (weighing over 16 tons).