Posted on 03/15/2022 10:50:34 AM PDT by Oldeconomybuyer
BRUSSELS (Reuters) - EU antitrust regulators on Tuesday raided several automotive companies and associations in several countries on suspicion of breaching the bloc's cartel rules.
The European Commission also sent companies requests for information, it said without disclosing company names.
"The inspections and requests for information concern possible collusion in relation to the collection, treatment and recovery of end-of-life cars and vans which are considered waste," the EU competition enforcer said in a statement.
German carmaker BMW said it has received a request for information and would respond.
Ford said in a statement that it had been served with a notice by CMA "relating to the recycling of old or written-off vehicles, specifically cars and vans, also known as end-of-life vehicles".
Renault said it "confirms that it was visited today by European Commission investigators" and is cooperating fully.
Volkswagen and its premium brand Audi both declined to comment. Carmakers Stellantis and Ferrari did not immediately respond to requests for comment.
Companies found breaching EU cartel rules face fines up to 10% of their global turnover.
(Excerpt) Read more at finance.yahoo.com ...
Time to close shops. With Russian energy, plastics and metals cut off, who in a sane mind is trying to build cars in Europe?
Companies found breaching EU cartel rules face fines up to 10% of their global turnover.
Brussel Muscle...
Doing anything then helping the Ukraine. Typical
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