Anticartel probe expands in VW, Daimler, Audi

Monday, 23. October 2017 18:22

Another simultaneous raid was conducted in the headquarters of automotive majors in Germany by the European Commission on Monday, but Volkswagen AG's Porsche has been excluded, as was Bayerische Motoren Werke AG (BMW AG), unlike last week. Inspectors combed through VW's offices in Wolfsburg and the premises of its subsidiary Audi AG in Ingolstadt. They also visited Daimler AG in Stuttgart, regulators said.

The inquiry, which was launched without formal procedure, concerns alleged price fixing and illegal schemes in supply since late last century. "There is no legal deadline to complete inquiries into anticompetitive conduct. Their duration depends on a number of factors, including the complexity of each case, the extent to which the companies concerned cooperate with the commission and the exercise of the rights of defense," the European Union's executive arm said of the preliminary investigations.

Related Links: Volkswagen AGDaimler AGPorsche Automobil Holding SEAUDI AG
Baha Breaking the News (BBN) / IT