The European Union fined more than 10 car concerts for participating in a cartel

The European Commission fined a number of large car companies totaling 458 million euros for participating in conspiracy related to the utilization of cars. For more than 15 years there was a cartel that included Volkswagen, Stellantis, Ford, Honda, Kia and others. They agreed on fraud in the field of processing old cars, writes Reuters. Mercedes-Benz was also included in the cartel, but he avoided the fine for disclosing information to the regulator.

It turned out that the manufacturers agreed to hide information about which part of the car is suitable for processing, and also not to pay companies engaged in the disposal of old machines. In addition, they agreed not to compete with each other in advertising regarding the processed materials.

Interestingly, the cartel was identified back in 2017 – at that time it had existed for 15 years. The manufacturers were fined only now: the most severe punishment was received by Volkswagen, who will have to pay 127.69 million euros.

Stellantis received a fine in the amount of 99.5 million, Renault-Nissan-at 81.46 million, Ford-41.46 million. Among other fined: Toyota, Mitsubishi, Honda, Hyundai, Jlr, Mazda, General Motors, Suzuki and Volvo.

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ACEA – the Association of automakers, which organized meetings and contacts between companies – was fined 500 thousand euros. All companies recognized offenses in exchange for reducing fines by 10 percent.

Meanwhile, the EC auto industry is collapsing due to the new duties of Donald Trump. Tariffs for the import of foreign cars in the United States will cause great damage to the Auto of the Germany and Italy, European media believe. For example, Porsche and Audi, which do not have production in the United States, will suffer greatly.

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