European Truck Cartel
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Claims Funding Europe and BarentsKrans are working on behalf of owners and lessors of medium- and heavy-duty trucks to prosecute claims against certain European vehicle manufacturers.
In a July 2016 decision, the European Commission announced almost €3 billion in fines against European truck manufacturers Volvo/Renault, Daimler, Iveco, and DAF. The Commission’s announcement stated, among other things, that these manufacturers colluded for 14 years to fix truck prices and pass on the costs of compliance with emissions rules. MAN, which revealed the existence of the cartel to the commission, was not fined. Each of the companies acknowledged their involvement in the cartel and agreed to settle the case.
The infringement covered the entire EEA and lasted from 1997 until 2011. The Commission’s investigation revealed that the cartel had coordinated to fix prices and delay the introduction of emissions technologies. At the time the results of the investigation were announced, the European Commissioner for Competition Margrethe Vestager said:
“[i]t is not acceptable that MAN, Volvo/Renault, Daimler, Iveco and DAF, which together account for around 9 out of every 10 medium and heavy trucks produced in Europe, were part of a cartel instead of competing with each other.”
The Commission later found that Scania had participated in the cartel, and imposed a fine of almost €900 billion.
The Commission’s decision constitutes binding proof that the behavior which occurred was illegal. Firms affected by the cartel may seek damages. Claims Funding Europe and BarentsKrans’ European truck cartel damages claim represents truck fleet owners and operators from all over Europe who suffered losses as a result of the truck cartel. If you bought or leased medium or heavy trucks from the European truck cartel between 1997 and 2011, you are entitled to seek damages in respect of the losses caused by the cartel. Even though the Commission has fined the companies concerned, damages may be awarded without being reduced on account of the Commission fine.
The process for joining the claim is straightforward. To find out more, please contact email@example.com or register now.