Share

17 top automakers fined for 'cartel' deal

MADRID, Spain - Spain's competition authorities have fined 20 automakers and distributors €171-million - about R2.4-billion! - for practices it said constituted a cartel.

A statement from the National Markets and Competition Commission said the sanctioned companies "exchanged commercially sensitive and strategic information in the Spanish vehicle distribution and after-sales market".

'COLLABORATORS' EXCUSED

The companies fined include Spanish subsidiaries and distributors of BMW, Chrysler, Chevrolet, Citroen, Fiat, General Motors, Honda, Hyundai, Kia, Mazda, Mercedes-Benz, Mitsubishi, Nissan, Peugeot, Renault, Toyota and Volvo.

The commission said VW, Audi, SEAT and Porsche were not fined because it was their collaboration that provided enough evidence to merit the inspections.

The companies have two months to appeal the fines before the National Court.

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()