Euro truck makers probed for cartel price fixing

LONDON, Eng. – Europe’s biggest truck makers are reportedly under investigation for alleged price fixing in the commercial vehicle market.

European media is reporting that the UK’s Office of Fair Trading (OFT) has searched the head office of Mercedes-Benz Trucks in England. Mercedes is owned by Daimler, the world’s largest truck maker.

The OFT declined to say whether any laws were broken. However, one individual has reportedly been arrested and set free on bail.

Sweden’s Scania AB and AB Volvo confirmed that they are under investigation by the OFT as well.

Volvo — Europe’s second-largest truck maker which sells Volvo, Renault, Mack and UD branded Trucks – said it has received letters from the OFT.

Officials at German company MAN and Fiat’s Iveco division told media that they are aware of the case and are cooperating with antitrust authorities, but didn’t provide any further details.

The OFT can impose stiff fines of up to 10 percent of a company’s global annual revenue under the Competition Act 1998 for breaking antitrust rules.

Companies in various transport sectors have been probed by European authorizes in recent years, namely air cargo carriers and freight forwarders.

While speculation of price fixing in the shipping line industry also persist, companies in that sector are conditionally exempted from antitrust laws until 2014.