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17 top automakers fined for 'cartel' deal

2015-07-30 11:40

BEAUTIFUL CITY, SHADY DEALINGS? 17 top automakers have been fined a fabulous sum for, the government there says, running a cartel. Image:; Wikipedia

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.

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