German auto giants BMW, Daimler, Volkswagen fined for forming steel cartel ...News

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German auto giants BMW, Daimler, Volkswagen fined for forming steel cartel
source : Russia Today ( News ) () 85
Germany's competition commission Bundeskartellamt has ordered the country’s three major automakers to pay a total fine of €100 million ($110 million) for forming a cartel to fix steel prices. The watchdog said that BMW, Daimler and Volkswagen met twice a year with steel makers between 2004 and 2013 to set uniform surcharges for the long steel they purchased. Unlawful prices were in place until at least 2016, it said. Also on rt.com Leading German car makers involved in decades-long price fixing cartel – media Long steel is a crucial element used in manu

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