Dutch lorry maker DAF fined €753m for cartel forming over 14 years
The European Commission has fined a group of truck manufacturers, including Dutch firm DAF, a total of €2.93bn for operating as an illegal cartel for 14 years.
The commission said in a statement that MAN, Volvo/Renault, Daimler, Iveco, and DAF had broken EU antitrust rules by colluding on truck pricing and on passing on the costs of compliance with stricter emission rules. The cartel operated between 1997 and 2011, the commission said.
Eindhoven-based DAF was given the second biggest fine of nearly €753m.
MAN was not fined as it revealed the existence of the cartel to the Commission. All companies acknowledged their involvement in the cartel and agreed to settle the case.
‘It is not acceptable that MAN, Volvo/Renault, Daimler, Iveco and DAF, which together account for around nine out of every 10 medium and heavy trucks produced in Europe, were part of a cartel instead of competing with each other,’ competition commissioner Margrethe Vestager said in a statement.
DAF has been part of American listed industrial group PACCAR since 1996.
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