After alerting the EC to the cartel, MAN avoided a fine of around 1.2 billion euros, while Daimler, Iveco and Volvo Group all received reduced fines for cooperating in the investigation.
When calculating the fines, the EC said it took into account the manufacturers ‘respective truck sales in the EEA, the seriousness of the infringement, the companies’ high combined market share as well as the duration and geographic scope of the infringement. the agreement.
Volvo Group President and CEO Martin Lundstedt said: âWhile we regret what happened, we are confident that these events have not had an impact on our customers. The Volvo Group has always been in competition for every transaction.
“We have taken these events very seriously from the start and our full cooperation with the committee has resulted in a very substantial reduction in the fine.”
In its ruling today (July 19), the EC said companies coordinate prices at the “gross list” level, which relates to the factory price of trucks and is generally used as the basis for pricing in the industry. heavy-duty industry.
The EC stressed that although manufacturers agreed on the timing and cost pass-through of the emissions technology, they did not aim to avoid or manipulate compliance with emissions standards.
The EC launched the investigation in 2011 when it carried out unannounced inspections of the premises of truck manufacturers. The manufacturers received a Statement of Objections from the EC in 2014, a formal notice informing them that they were suspected of engaging in anti-competitive behavior.
The Volvo Group made a provision of 650 million euros before the conclusion of the EC investigation, while Daf’s parent company, Paccar, set aside $ 854.9 million (649.5 million euros). pounds) and Iveco’s parent company CNH Industrial has allocated $ 502 million.
An EC spokeswoman said the five truck producers now have three months to pay the fine. The money will go into the EU budget and reduce the contributions due by EU countries for EU membership, she added.