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"The cheapest thing of course is not to participate in a cartel," EU competition commissioner Vestager said. (Photo: EUobserver)

EU hits truck firms with record €3bn fine

The EU's antitrust chief handed down a record €3 billion fine on Tuesday (19 July) on truck makers in penalties for colluding in an illegal cartel for over 14 years to fix prices and passing on the costs of emission rules.

The €2.93 billion fine will hit major European truck making companies, as the EU Commission has found that MAN, Volvo/Renault, Daimler, Iveco, and DAF broke European antitrust rules.

Scania is not covered by the decision, the investigation will go on in their ...

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Author Bio

Eszter Zalan is a Hungarian journalist who worked for Brussels-based news portal EUobserver specialising in European politics, focusing on populism and Brexit.

"The cheapest thing of course is not to participate in a cartel," EU competition commissioner Vestager said. (Photo: EUobserver)

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Author Bio

Eszter Zalan is a Hungarian journalist who worked for Brussels-based news portal EUobserver specialising in European politics, focusing on populism and Brexit.

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