BMW will have to pay a $158 million fine that Swiss competition authorities imposed on the German automaker five years ago after Switzerland's top court said Friday that it had rejected its appeal. "The Federal Supreme Court of Switzerland has rejected the appeal by the company Bayerische Motoren Werke AG... related to the fine of around 157 million francs imposed in 2012," or $158 (135 million euros) at current exchange rates, the court said.
The Swiss Competition Commission (COMCO) claimed that since 2003 the German automaker had prevented Swiss nationals from buying its BMW and Mini cars abroad. A clause in the contracts of BMW dealers operating in the European Economic Area (EEA) prohibited sales to clients from countries outside the bloc, making it hard for individuals to import the cars to Switzerland, COMCO said at the time. During the period of the alleged practice, the Swiss franc had strengthened significantly against the euro, making purchases in the eurozone more advantageous.
Comments
Comments are closed.