£770m fine for price fix

Truck gi­ant Sca­nia pun­ished over car­tel

Daily Mirror - - FINANCE -

LORRY maker Sca­nia has been hit with a £770mil­lion fine for tak­ing part in a price­fix­ing car­tel.

The Euro­pean Com­mis­sion slammed the Swedish firm for col­lud­ing with ri­vals over a 14-year pe­riod to rip off truck buy­ers.

A damn­ing probe found Sca­nia and the five oth­ers struck cosy deals. Se­nior bosses held meet­ings at trade fairs, by phone and via email, it found.

The five ri­vals – MAN, which like Sca­nia is part of the VW group, Volvo/ Re­nault, Daim­ler, Iveco and DAF – set­tled with the Com­mis­sion in July last year. Four of them col­lec­tively paid £2.5bn in fines.

MAN, which blew the whis­tle on the col­lu­sion, es­caped with­out a fine.

Sca­nia re­fused to deal with the EU probe.

Mar­grethe Vestager, the EU’s no-non­sense Com­pe­ti­tion Com­mis­sioner, said: “This car­tel af­fected very sub­stan­tial num­bers of road hauliers in Europe, since Sca­nia and the other truck man­u­fac­tur­ers in the car­tel pro­duce more than nine out of ev­ery 10 medium and heavy trucks sold in Europe. These trucks ac­count for around three-quar­ters of in­land trans­port of goods in Europe.

“In­stead of col­lud­ing on pric­ing, the man­u­fac­tur­ers should have been com­pet­ing against each other – also on en­vi­ron­men­tal im­prove­ments.”

The watch­dog said its in­ves­ti­ga­tion cen­tred on the man­u­fac­tur­ing of medium trucks, weigh­ing be­tween six to 16 tonnes, and heavy trucks, weigh­ing more than 16 tonnes.

Sca­nia was found to have taken part in a car­tel which co­or­di­nated on the fac­tory price of trucks, the tim­ing of when emis­sion tech­nolo­gies should be launched on the mar­ket, and when the costs of those mea­sures should be passed onto buy­ers.

IN­VES­TI­GA­TOR Mar­grethe Vestager

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