Ten carmakers, including BMW and Ford, and two trade bodies have reached a settlement with the UK’s antitrust regulator to pay £77.7m in fines after admitting to breaking vehicle recycling-related competition law, the Competition and Markets Authority (CMA) said on Tuesday.
The European Commission, which launched a parallel probe in March 2022, on Tuesday issued a fine amounting to about €458m to 15 major car manufacturers and the European Automobile Manufacturers’ Association (ACEA).
Car manufacturers, including Jaguar Land Rover, Peugeot Citroën, Mitsubishi, Nissan, Renault, Toyota, Vauxhall and Volkswagen illegally agreed not to compete against one another when advertising what percentage of their cars can be recycled, the CMA said.
They also illegally colluded to avoid paying third parties to recycle their customers’ scrap cars, the regulator added.
Two trade associations, the Society of Motor Manufacturers & Traders and the ACEA also were involved in both illegal agreements.
Mercedes-Benz, which was also involved in the agreements, is exempt from paying a financial penalty as it alerted the CMA to its participation via the authority’s leniency policy, the regulator said.
The car manufacturers and industry bodies have until June 2 to pay their fines.
Reuters
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.