Report – European truckmakers might have operated a cartel for 14 years image

According to leaked documents taken from an European Commission probe and reported by the Financial Times, the big European heavy truck makers seem to have been implicated in a monopoly scheme for no less than 14 years.

The cartel had been set up and operated to make sure they can delay the progress and introduction of emissions-cutting technology requested by the European legislators, in order to avoid incurring the associated costs for development and implementation. According to the newspaper, a document was cited as saying that DAF Trucks, Daimler, Iveco, Scania, Volvo and MAN, “agreed the timing and price increase levels for the introduction of new emission technologies” in regards to the 2000 introduction of the Euro 3 rules on nitrogen oxide and CO2 and other emissions.

The Financial Times further added that back in 2011 the European Union investigators raided some of the manufacturers as they started an antitrust investigation – finding evidence they operated a monopoly and infringed EU rules from January 1997 to January 2011. The report further disclosed that already the European Commission has sent formal charge sheets to the truck builders it considered involved in the price fixing. According to EU law, if the Commission finds the companies to have infringed EU rules on cartels and market dominance abuse, the companies could be fined as much as 10% of their yearly revenue.

Via Reuters