Top truck brands say ‘no harm done, let’s move on’
FOUR of the five truck manufacturers who were found to have been operating a cartel have responded after the European Commission (EC) handed out a record €2,9 billion fine.
The EC last week found that they had colluded for 14 years on truck prices and passing on the cost of meeting emissions standards to customers.
President and CEO at Volvo Trucks and Renault Trucks owner Volvo Group Martin Lundstedt said the events had not had any impact on its customers.
“We have taken these events very seriously from the outset and our full co-operation with the commission resulted in a very substantial reduction in the fine,” said Lundstedt. It received a 50% reduction in its fine to €670 million.
Daimler, which was hit with a €1 billion fine, received a 40% reduction in the amount it initially faced after co-operating with the EC’s investigation. A spokesperson for Daimler said it regretted what had happened and had taken ap- propriate action some time ago.
The Daimler spokesperson added: “The company has strengthened its internal controls and has intensified its regular and comprehensive employee training with regard to antitrust law and competition law.”
A Daf spokesperson said the final fine, €752 million, was lower than expected after it received 10% reduction in the charge for settling the case with the EC.
The spokesperson said Daf believed the exchange of factory list prices had no effect on customers.
Man avoided a fine of approximately €1,2 billion as it informed the EC about the existence of the cartel before the investigation was launched in 2011.
Man said in a statement on its website: “The Man code of conduct includes a clear belief in free and fair competition. The company does not tolerate any unfair business practices or illegal conduct.”
Iveco, fined €494 million, and Scania declined to comment. Scania’s involvement in the cartel is still being investigated. — WR.