EU Fines Truck Makers Record $3.2 Billion Over 14-Year Cartel

July 20, 2016

Daimler, Paccar Inc. and two other truck makers were fined a record $3.2 billion (2.9 billion euros) by EU antitrust regulators July 19 for taking part in a 14-year cartel. The European Commission said the companies fixed prices and coordinated on the timing of introducing new emissions technologies in 1997 and on passing on costs of those technologies. Its overall fine was more than double the previous record for a group operating a cartel in the EU.

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