European truck manufacturers face litigation from UK authorities over price fixing
By Bradley Osborne - 24th January 2022
UK – More than 100 local authorities across the UK are pursuing legal action against European truck manufacturers involved in the 1997-2011 truck cartel, with over GBP450m of alleged losses being claimed because of price fixing, according to The Times.
The claims have been launched following the publication of the final settlement reached by the European Commission in 2020, which found that Daimler, DAF, Volvo, MAN Truck & Bus, Iveco, and Scania had colluded over a period of 14 years in controlling the factory price of trucks. The manufacturers were found to have exchanged price lists and information on the factory price of trucks, informing each other of planned factory price increases, and even agreeing on price increases. The EC also accused the companies of collectively passing on the cost of developing low-emissions technologies to comply with EU regulations to their customers.
