AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 129.00 Decreased By ▼ -0.53 (-0.41%)
BOP 6.76 Increased By ▲ 0.08 (1.2%)
CNERGY 4.50 Decreased By ▼ -0.13 (-2.81%)
DCL 8.70 Decreased By ▼ -0.24 (-2.68%)
DFML 41.00 Decreased By ▼ -0.69 (-1.66%)
DGKC 81.30 Decreased By ▼ -2.47 (-2.95%)
FCCL 32.68 Decreased By ▼ -0.09 (-0.27%)
FFBL 74.25 Decreased By ▼ -1.22 (-1.62%)
FFL 11.75 Increased By ▲ 0.28 (2.44%)
HUBC 110.03 Decreased By ▼ -0.52 (-0.47%)
HUMNL 13.80 Decreased By ▼ -0.76 (-5.22%)
KEL 5.29 Decreased By ▼ -0.10 (-1.86%)
KOSM 7.63 Decreased By ▼ -0.77 (-9.17%)
MLCF 38.35 Decreased By ▼ -1.44 (-3.62%)
NBP 63.70 Increased By ▲ 3.41 (5.66%)
OGDC 194.88 Decreased By ▼ -4.78 (-2.39%)
PAEL 25.75 Decreased By ▼ -0.90 (-3.38%)
PIBTL 7.37 Decreased By ▼ -0.29 (-3.79%)
PPL 155.74 Decreased By ▼ -2.18 (-1.38%)
PRL 25.70 Decreased By ▼ -1.03 (-3.85%)
PTC 17.56 Decreased By ▼ -0.90 (-4.88%)
SEARL 78.71 Decreased By ▼ -3.73 (-4.52%)
TELE 7.88 Decreased By ▼ -0.43 (-5.17%)
TOMCL 33.61 Decreased By ▼ -0.90 (-2.61%)
TPLP 8.41 Decreased By ▼ -0.65 (-7.17%)
TREET 16.26 Decreased By ▼ -1.21 (-6.93%)
TRG 58.60 Decreased By ▼ -2.72 (-4.44%)
UNITY 27.51 Increased By ▲ 0.08 (0.29%)
WTL 1.41 Increased By ▲ 0.03 (2.17%)
BR100 10,450 Increased By 43.4 (0.42%)
BR30 31,209 Decreased By -504.2 (-1.59%)
KSE100 97,798 Increased By 469.8 (0.48%)
KSE30 30,481 Increased By 288.3 (0.95%)

BRUSSELS: EU antitrust regulators on Tuesday raided several automotive companies and associations in several countries on suspicion of breaching the bloc’s cartel rules.

The European Commission also sent companies requests for information, it said without disclosing company names.

“The inspections and requests for information concern possible collusion in relation to the collection, treatment and recovery of end-of-life cars and vans which are considered waste,” the EU competition enforcer said in a statement.

German carmaker BMW said it has received a request for information and would respond. Mercedes Benz said it does not expect to be fined because it is a leniency applicant and is cooperating extensively with the Commission and the UK Competition and Markets Authority (CMA).

Ford said in a statement that it had been served with a notice by CMA “relating to the recycling of old or written-off vehicles, specifically cars and vans, also known as end-of-life vehicles”.

“Given the situation is ongoing it would be inappropriate for us to say more at this stage except to state that we will fully cooperate with the CMA’s review,” the U.S. carmaker said. Renault said it “confirms that it was visited today by European Commission investigators” and is cooperating fully.

Volkswagen and its premium brand Audi both declined to comment. Carmakers Stellantis and Ferrari did not immediately respond to requests for comment. The CMA also opened an investigation into a number of unnamed vehicle makers and some industry bodies and said it was cooperating with the Commission.

Companies found breaching EU cartel rules face fines up to 10% of their global turnover. The Commission has in the past decade issued fines totalling about 2.2 billion euros ($2.4 billion) against car parts cartels dealing in products ranging from brakes to wire harnesses, seat belts and air bags.

Comments

Comments are closed.