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Nov 5, 2016

TRUCKMAKERS' PRICE FIXING * Europe: Compensation requested for UK hauliers

* England - RHA to sue truck makers over price fixing

--- The RHA is to claim compensation for UK hauliers after the European Union fined commercial vehicle manufacturers nearly €3 billion for price fixing in July... The association will bring collective proceedings to the Competition Appeal Tribunal under the Consumer Rights Act 2015... Earlier this year Volvo/Renault, Daimler, Iveco and DAF were fined a total of €2.9 billion after they were identified as being involved in a price fixing cartel. The largest fine, €1 billion, was imposed on Daimler, maker of Mercedes Benz trucks. Volvo/Renault was fined €670m, Iveco was fined €495m, and DAF was fined €753m... Burnett added: “We understand that there is an enormous amount of detail behind this and working through it will take a long time. Indeed it could well be in excess of two years before operators see any form of potential compensation, depending on how the case progresses through the CAT for either settlement discussions or even a trial” ... 
Tunbridge Wells, EN, UK - Logistics Manager - 3 November 2016

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