In July 2016, a number of truck manufacturers were fined €2.926 billion by the European Commission for cartel activities between 1997 and 2011.
Which manufacturers were involved?
The group of manufacturers which were subject to this substantial fine by the Commission include: DAF, Daimler, Iveco, MAN and Volvo/Renault. In September 2017, the Swedish truck manufacturer Scania was also fined by EU antitrust regulators for its involvement in the cartel.
The investigation found that over a 14-year period, the cartel colluded in the following activities:
- Fixing gross (and sometimes net) list prices
- Delaying the introduction of more fuel-efficient technologies
- Reducing rebates following the introduction of the Euro
- Aligning gross list prices across the UK and Europe
- Agreeing to pass on to customers the costs of new technologies to meet emission standards
The European Commissioner for Competition has made it clear that the cartel affected a “very substantial number of road hauliers in Europe”.
The cartel collectively produces more than 9 out of every 10 medium and heavy trucks sold in Europe.
What does this mean for your business?
The consequence of the European Commission’s decision is that if you purchased or leased a truck produced by DAF, Daimler, Iveco, MAN, Volvo/Renault or Scania between 1997 and 2011, you could be entitled to significant compensation of possibly £6,000.00 per truck.
If you operate a Haulage business this decision is deserving of immediate attention, and represents an opportunity to reclaim substantial sums.
What should you do next?
There is a deadline by which some claims must be made, which is as early as July 2018. If you believe you may have a claim it is therefore important to act quickly.
For expert guidance and advice on your next steps, please contact Jonathan Moreland who is the head of our Dispute Resolution Team on 0191 384 2441, or email: firstname.lastname@example.org.