Photo: The European Union has fined more than 10 carmakers for participating in a cartel (Getty Images) Author: Konstantin Shirokun
The European Union has fined more than 10 carmakers a total of 458 million euros for their involvement in a car-scrapping conspiracy. The cartel, which included Volkswagen, Stellantis, Ford, Honda, Kia and others, existed for more than 15 years.
RBC-Ukraine reports this with reference to Reuters.
Carmakers agree on fraud in the recycling of old cars. Mercedes-Benz was also part of the cartel, but avoided a fine for disclosing information to the regulator.
It turned out that the manufacturers had agreed to hide information about what part of the car was recyclable, and not to pay companies that deal with the disposal of old cars. In addition, they agreed not to compete with each other in advertising regarding recycled materials.
Interestingly, the cartel was discovered back in 2017 – at that time it had already existed for 15 years. The manufacturers were fined only now: Volkswagen received the harshest punishment, which will have to pay 127.69 million euros.
Stellantis was fined €99.5 million, Renault-Nissan €81.46 million, and Ford €41.46 million. Others fined included Toyota, Mitsubishi, Honda, Hyundai, JLR, Mazda, General Motors, Suzuki and Volvo.
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