The reason Mercedes, BMW and Volkswagen were fined € 100 million

Mercedes, BMW and Volkswagen were fined 100 million euros. Thus, the German National Antimonopoly Authority fined carmakers for creating a cartel for the purchase of steel.

Berlin officials say that between 2004 and 2013, representatives of the three companies met regularly with a number of steel producers and supplier companies to develop a strategy to evenly increase the price paid for purchasing the material. The cartel worked until 2016.

BMW has to pay 28 million euros, Daimler, the company that owns Mercedes-Benz, will be forced to pay 23.5 million euros, while Volkswagen declined to comment on the amount it has to pay, but does not refuse to pay the fine. And several steel producers were fined € 205 million. The antimonopoly department showed that the purchase prices for steel parts that were the subject of the cartel make up less than 1 percent of the final cost of the car.

It is worth noting that such fines are not uncommon for German grandees and this is only their minimal part. Most often, companies have to pay up to several hundred million euros per year.http://fiatforum.lv/http://fiatforum.lv/



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