English Arabic Armenian Azerbaijani Chinese (Simplified) Chinese (Traditional) Czech Danish Dutch Estonian Filipino Finnish French Galician Georgian German Greek Hindi Hungarian Icelandic Indonesian Italian Japanese Korean Latvian Lithuanian Malay Maltese Norwegian Persian Polish Portuguese Russian Slovak Slovenian Spanish Swedish Thai Turkish Ukrainian Vietnamese

€2.9 billion fine for truck manufacturers

BRUSSELS: July 20, 2016. The European Commission (EC) has fined truck manufacturers Volvo/Renault, Daimler, Iveco and DAF over €2.9 billion for 14 years of price fixing while they passed on the costs of emissions' compliance to customers.

The EC said MAN escaped a fine because it was the whistleblower - and added that an ongoing investigation into truck manufacturer Scania is not covered by the current settlement.

According to the Commission, between 1997 and 2004 senior managers from the other five manufacturers met at trade fairs to fix the factory price of trucks weighing from six to over 16 tonnes, the timing for introducing new emissions technologies, and the passing on to customers of any related costs.

Daimler truckThe EC said that after 2004, the cartel was organised via the truck producers' German subsidiaries, with participants exchanging information electronically.

"We have today put down a marker by imposing record fines for a serious infringement. In all, there are over 30 million trucks on European roads, which account for around three quarters of inland transport of goods in Europe and play a vital role for the European economy," said EC commissioner for Competition Margrethe Vestager. "It is not acceptable that MAN, Volvo/Renault, Daimler, Iveco and DAF, which together account for around nine out of every 10 medium and heavy trucks produced in Europe, were part of a cartel instead of competing with each other," she added.

Daimler received the highest fine of just over €1.0 billion followed by DAF (€752.6 million), Volvo/Renault (€670.4 million) and Iveco (€494.6 million).

Jos Dings, executive director at NGO watchdog Transport & Environment (T&E) commented: "This is a big fine, but not at all extreme if you look at the enormous scale of this cartel – all trucks sold in Europe over 14 years. After this verdict truck makers need to change, but so too do regulators by creating competition on environmental performance. Introducing fuel economy standards is one key way of doing that."

T&E said the EC's verdict showed the collusion by the truck manufacturers was not just immoral but illegal: "Unfortunately none of the €2.93 billion settlement fine has actually been dedicated towards remediation of environmental damage," added Dings. "The fine could have well been directed towards research and development of cleaner, more energy efficient vehicles, or the accelerated electrification of transport."

Established in 1990, T&E represents around 50 organizations across Europe working for sustainable transport policies. It has observer status at ICAO via the International Coalition for Sustainable Aviation, and is a member of the Clean Shipping Coalition that has similar status at the International Maritime Organisation.

News

Written on 18/01/2018, 20:29
extreme-weather-greatest-economic-risk LONDON: January 17, 2018. The latest Global Risks Report from the World Economic Forum (WEF) says extreme weather events are seen as the greatest...
Written on 18/01/2018, 15:17
amazon-shortlists-20-u-s-cities-for-second-headquartersSEATTLE: January 18, 2018. Amazon has chosen 19 U.S. cities plus Toronto, Canada from 238 locations across the U.S., Canada, and Mexico as possible sites...
Written on 17/01/2018, 21:42
seat-builds-spain-s-tallest-logistics-warehouseBARCELONA: January 15, 2018. Car manufacturer SEAT (Sociedad Española de Automóviles de Turismo) is constructing a new automated logistics center to store...
Written on 17/01/2018, 17:44
maersk-and-ibm-form-blockchain-companyCOPENHAGEN/ARMONK, NY: January 16, 2018: A.P. Møller - Mærsk and IBM are to establish a joint venture to leverage blockchain technology for global...
Written on 16/01/2018, 21:36
uk-roro-freight-depends-on-future-eu-accessLONDON: January 16, 2018. The UK short-sea ferry industry is spending over £1 billion on new ships, port and service facilities in the next four years,...
Written on 13/01/2018, 20:38
germany-to-allow-longer-trainsBERLIN: January 09, 2018. German railway operators have welcomed a decision by the federal government to allow more 740-meter trains to operate. Currently...
Written on 13/01/2018, 18:53
boeing-launches-electric-cargo-droneCHICAGO, January 10, 2018. Boeing is developing a 500lbs–payload electric vertical-takeoff-and-landing (eVTOL) drone for future cargo and logistics...
Written on 13/01/2018, 18:49
amazon-expands-at-cincinnati-hubSEATTLE: January 12, 2017. Dave Clark, senior vice president Operations for Amazon Prime Air, says the company has just added 210 acres to its future air...
Written on 10/01/2018, 22:50
disasters-cost-the-u-s-economy-us-306-billion-in-2017DENVER: January 09, 2018. According to the National Oceanic and Atmospheric Administration floods, tornadoes, hurricanes, drought, fires and freezes...
Written on 07/01/2018, 21:45
arizona-plans-bridge-not-wall-with-mexicoPHOENIX, AZ: January 06, 2018: As Donald Trump seeks US$18 billion from the U.S. Congress to build his border wall with Mexico, Arizona's Republican...
Written on 03/01/2018, 20:48
new-rail-line-delivers-first-containers-to-nairobi-from-mombasaNAIROBI: January 01, 2018. The new standard gauge rail (SGR) link between Nairobi and Mombasa saw the start of its first commercial freight service with...
Written on 03/01/2018, 16:57
eurozone-dominates-pmi-manufacturing-index-growthLONDON: January 03, 2018. According to the final IHS Markit Purchasing Managers' Index (PMI) for 2017, eurozone manufacturing reached 60.6 in December,...
Written on 18/12/2017, 23:19
dhl-underwrites-good-shipping-optionBONN: December 18, 2017. DHL Global Forwarding has signed an exclusive MoU with the Good Shipping Program. The company wants to decarbonize the ocean...
Written on 13/12/2017, 22:14
corruption-pervasive-in-trump-white-houseBERLIN: December 13, 2017. A new survey by ethics watchdog Transparency International says 44 percent of Americans now believe that corruption is...
Written on 13/12/2017, 22:07
banks-to-test-blockchain-for-sustainable-supply-chainsLONDON: December 13, 2017. The University of Cambridge Institute for Sustainability Leadership (CISL), supported by Barclays, BNP Paribas, Sainsbury's,...
Written on 13/12/2017, 21:38
shipt-a-target-for-us-550-millionMINNEAPOLIS: December 13, 2017. American bricks-and-mortar retailer Target Corp. is to purchase Shipt, an online same-day domestic delivery platform, for...
Written on 11/12/2017, 18:20
deutsche-bahn-subsidiary-regrets-rastatt-rail-closureDUSSELDORF: December 11, 2017. Speaking at meeting of rail operators last week, DB Netz CEO Frank Sennhenn expressed regret for his company's involvement...
Written on 10/12/2017, 22:44
rolls-royce-to-test-remote-controlled-shippingPARIS: December 06, 2017. The European Space Agency (ESA) and Rolls-Royce have signed an MoU to investigate how space technology can be used to develop...
Written on 08/12/2017, 20:10
beijing-continues-to-cut-carbonNAIROBI: December 06, 2017. According to an Assessment Report on Beijing Capital Airport, released during the third UN Environment Assembly in Nairobi...
Written on 07/12/2017, 20:53
bollore-begins-rail-renovation-between-cote-d-ivoire-and-burkina-fasoABIDJAN, Côte d'Ivoire: December 04, 2017. SITARAIL, a Bolloré Transport & Logistics subsidiary, has begun upgrading the rail link between Abidjan and...

- powered by Quickchilli.com -