European Commission and UK competition regulators on Tuesday fined trade bodies and carmakers including Volkswagen and Renault a total of more than €550mn after a joint investigation into a cartel involving vehicle recycling.
The EU’s antitrust watchdog levied fines totalling €458mn on 15 large car manufacturers as well as the ACEA, the European Automobiles Manufacturers’ Association, over the scheme. Other companies involved included BMW, Ford, Toyota, Honda, Hyundai, Jaguar Land Rover, Mazda, Mitsubishi, Suzuki, Opel and Volvo Cars.
The UK’s Competition and Markets Authority fined 10 car manufacturers and two trade bodies £77.7mn in relation to similar conduct. The CMA levied a fine on the UK’s SMMT trade body as well as the ACEA.
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