MAN, Daimler, DAF, Iveco, Renault and Volvo busted for colluding

Truck companies served with big fines in Europe

MAN, Daimler, DAF, Iveco, Renault and Volvo busted for colluding

Five of the most popular truck manufacturers in Europe have been hit with massive fines after it was found they had colluded on pricing and the introduction of new technology.

In total, $4.4 billion dollars (3 Billion Euros) in fines have been issued to Daimler, DAF, Iveco and Renault/Volvo by the European Union (EU).

MAN escapes penalty after blowing the whistle on the industry, while Volvo/Renault, Daimler and Iveco cooperated with the EU and had their fines reduced.

The EU said the brands had been acting as a cartel to fix prices of medium and heavy-duty trucks and time the introduction of technologies to comply with emissions rules for 14 years, up until a 2011 investigation put a stop to the illegal operation.

Daimler faces the largest single fine, slightly more than 1 billion euros ($1.47 billion AUD).

“Daimler regrets these occurrences and took appropriate action some time ago,” according to a statement released by the company.

“Daimler takes its responsibility with regard to competition law very seriously and has taken all appropriate measures to ensure that all employees act in compliance with applicable law.

“The company has strengthened its internal controls and has intensified its regular and comprehensive employee training with regard to antitrust law and competition law.”

About Joel Helmes 2668 Articles
Joel is the founder and CEO of Behind the Wheel. Joel has a background as a radio broadcaster with on-air roles at 4BC, 4KQ, 2KY, 2LT and 2UE amongst others, as well as a news editor and program director. Joel’s relationship with cars stems back to his early childhood learning to change oil and brakes with his father and uncle. This continued on into his driving years owning an assorted collection of cars.

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