* Munich - VW's truck schizophrenia
-- The European Union could impose a €4 billion fine, its highest ever, on five truck manufacturers, including Volkswagen and Daimler. One VW truck maker, MAN, is cooperating with investigators while another, Scania, may be hit with a big penalty... Volkswagen’s acquisition of Scania last year, as part of its push to challenge commercial vehicle market leader Daimler, could prove to be a pricey and dicey move... But Scania is one of five companies, including Daimler, facing possible cartel fines of more than €4 billion ($4.53 billion), Handelsblatt has learned from sources familiar with the case... If that happened, the truck manufacturers would be paying the highest cartel fine ever imposed in Europe. All companies involved have declined to comment... The penalties would deal a serious blow to VW and the other truck makers whose sales in Europe have been slumping for months. Fierce competition for customers has led in many cases to massive discounts that are certain to impact the companies’ bottom lines... In November, the European Union sent charges to DAF, Iveco, Volvo and MAN, which is owned by Volkswagen, in addition to Daimler and Scania, accusing the European truck manufacturers of operating a long-running price-fixing cartel... The case puts VW in a difficult position – and has created a daunting challenge for the new head of its truck division, Andreas Renschler, who has been tasked with combining the company’s truck manufacturers MAN and Scania...
(Bloomberg Getty Images: MAN truck repairs source) -- Munich, Germany - The Handelsblatt, by MARKUS FASSE & MARTIN MURPHY - (originally published 24 Feb 2016)
* Meanwhile, MAN’s restructuring is far from complete...
--- The partnership with Scania is helping, with MAN taking over the Swedish company’s large gear business while Scania manufactures axles for the Germans... In the future, the two companies will also cooperate in the development of engines and systems for the after-treatment of exhaust gases. Filters for diesel engines are already almost as expensive as the engines themselves... The truck maker is also expected to survive a European truck cartel investigation (See above) without fines, because it alerted the European Commission of price fixes in 2011...
Munich, Germany - Handelsblatt Global Edition, by Markus Fasse - 30 May 2016Labels: truckmakers fines, truckmakers news Europe
![[Valid Atom 1.0]](valid-atom.png "Validate my Atom 1.0 feed")
0 Comments:
Post a Comment
<< Home