Truck maker Scania fined more than £770million for price-fixing


Swedish truck giant Scania has been fined US$1.03 billion by the European Commission over its role in a price fixing scandal that lasted more than 14 years.

The European Commission found it had broken anti-trust rules by colluding with five other firms over 14 years.

The five other firms - MAN (Swiss: MAN.SW - news), Daimler (IOB: 0NXX.IL - news), Iveco, Volvo/Renault (LSE: 0NQF.L - news) and DAF - settled the case a year ago, getting a 10% cut in their fines in return for their cooperation.

European Union commission Margrethe Vestager, who has overseen huge fines against tech giants Google and Apple, yesterday affected a "substantial number" of hauliers.

"These trucks account for around three quarters..."

"Instead of colluding on pricing, the truck manufacturers should have been competing against each other - also on environmental improvements", said Vestager and added that the total penalty inflicted by Brussels on the cartel participants had reached 3.8 billion euros.

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"Scania also emphasises that it has co-operated fully with the European Commission by providing it with requested information and explanations throughout the entire investigation period", Scania says in a statement released this morning.

The companies that were involved in the cartel all manufacture medium trucks, weighing between six and 16 tonnes, and heavy trucks, which weigh over 16 tonnes, according to the Commission.

The EU handed a Volkswagen-owned truck-making firm a £771million fine yesterday for taking part in a price-fixing cartel that saw thousands of British customers ripped off. The final price paid by buyers is then based on further adjustments, done at national and local level, to these gross list prices. From 2004 onwards, it was operated at a "lower level" within the companies' German subsidiaries, and managed over email, the Commission said.

Fix the timing for the introduction of emission technologies to meet increasingly strict European emissions standards.

The EU competition enforcer said its investigation did not reveal any links between the cartel and allegations of carmakers cheating on emissions control testing.

Scania chose not to cooperate with the Commission during the investigation.