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German automakers probed for possible price-fixing

2016-07-05 16:11

PRICE FIXING: The offices of some of Germany's biggest automakers have been raided on suspicion of they colluded to fix the price of steel. VW, BMW and Daimler admit they are targeted. Image: QuickPic

Frankfurt - The German competition watchdog said on Tuesday it has raided the offices of some of the country's biggest automakers on suspicion of they colluded to fix the price of steel.

The Federal Cartel Office said in an emailed response to AFP that the premises of six companies were searched on June 23, but declined to reveal their names.

VW, BMW, Dailmer

Contacted by AFP, auto giants Volkswagen, BMW and Daimler, as well as car parts maker Bosch admitted they had been targeted.

They all insisted that they were cooperating with the authorities, but declined to provide any further details.

The cartel office said the raids "do not automatically mean that the companies or people affected were guilty of any infringement of cartel law."

The investigation could last several months.



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