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Truck Makers Face Fines as EU Steps Up Cartel Investigation


The European Commission has stepped up a wide-ranging cartel investigation that could lead to heavy fines for some of the world’s biggest truck makers.

The EU’s executive announced on Thursday (20 November) that it had sent formal charge sheets to several manufacturers it suspected of price fixing, marking the next phase of a complex investigation that began with raids on a number of companies’ headquarters in January 2011.

Daimler, Volvo, Volkswagen’s MAN and Iveco parent CNH Industrial all confirmed they had received the European regulator’s so-called statements of objections or were expecting it. Scania, also controlled by VW, had no immediate comment. Read more here.