HGV Price Fixing Cartel – Could YOU Get Some Money Back?
In July 2016, MAN, Volvo/Renault, Daimler, Iveco and DAF admitted to participating in an illegal price fixing cartel which operated to fix prices between 1997 and 2011. Scania is the target of an ongoing investigation.
MAN ‘blew the whistle’ and in return for doing so escaped liability for the criminal penalty that the European Commission imposed on the other cartel members of 2.93BN Euros. The cartel members who were penalised admitted their involvement in return for a 10% reduction to their fine(s). The effect of the EC’s decision and the admissions of the cartel members is that it will be all but impossible for the manufacturers to deny liability.
As such it is very likely that operators who purchased or leased HGVs over 6 tonnes between 1997 and 2011 from the cartel members (including MAN) will have a claim for financial loss including interest at 8% per annum. The overcharging is estimated to be in the region of 10% – 25% of the list price per vehicle.
At this stage the only admitted price fixing concerns HGVs but it seems at least possible (if not likely) that sooner or later coach and bus price fixing will come to light.
If you would like to investigate further whether you might have a claim and get money back for your business then call us now on 01279 818280 or click here to fill in a contact form. At Pellys Transport & Regulatory Law we have specialised in acting for commercial vehicle operators for the last 30+ years including acting for operators in commercial litigation, so don’t delay pick up the phone now, or send us an email and let us see if we can get you some of your money back.