EU: Vestager stresses that German carmakers may face high fines

Volkswagen, Daimler, BMW, Audi and Porsche have to may face drastic consequences in the diesel sector, EU Competition Commissioner Margrethe Vestager told Business Insider Deutschland. “If the allegations against the German car manufacturers are confirmed in court, they face very high financial penalties,” she said.

The five car manufacturers are said to have operated a cartel over a number of years, in which prohibited agreements were being made on a large scale, including arrangements surrounding the exhaust gas values of internal combustion engines. Daimler and VW have both carried out internal investigations into the matter.

Vestager stressed that it was still too early to “speculate on the extent of the possible sanctions and a length of time for a decision from the EU Commission.” However, the competition watchdog placed the case on a par with the cartel offenses of Google and Facebook.

“I see no big difference between the business practices of American tech companies and those of German car makers,” she said. “When companies commit illegal acts, they are usually driven by greed or fear.”

Full Content: Reuters

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