MOTORING NEWS - Penalties could be on the horizon for Germany's BMW, Daimler and VW as antitrust watchdogs deepen their investigation into collusion among the car manufacturers.
The European Commission is deepening its investigation into decade-long collusion by German companies BMW, Daimler and Volkswagen, as well as the VW Group's subsidiaries Audi and Porsche, making it more likely the companies could face fines, according to the German newspaper Handelsblatt.
Though no decision nor fines have been finalised, industry circles expect anti-trust authorities to move forward with the investigation in the coming months. The European Commission's only comment was: "Our investigation is in progress," a spokesperson said. The manufacturers also declined to comment.
The commission's in-depth investigation has been on-going since 2017, when the manufacturers admitted to cooperating since the 1990s in a manner that potentially violated antitrust rules, including discussing costs, suppliers and technology. In October, investigators raided BMW's headquarters, followed by Daimler and VW, searching for additional evidence into the extent of the scheme.
The fines could be huge. In the case of a European trucking cartel exposed in 2011, five of the six manufacturers accepted a settlement after more than five years of investigation, paying a record R46-billion.
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