EU antitrust regulators investigating possible German car cartel

The European Commission has confirmed that EU antitrust regulators are probing allegations of a cartel among a group of German carmakers, in an action that could result in bulky penalties for the companies.

The EU competition authority also revealed that the regulators were tipped off by someone about the alleged cartel.

Without providing more details, the EU executive said, “The European Commission and the Bundeskartellamt have received information on this matter, which is currently being assessed by the Commission. It is premature at this stage to speculate further.”

In a recent report, German magazine Der Spiegel named VW, Audi, BMW and Porsche in connection with the alleged cartel. According to the report, these companies might have colluded in order to fix the prices of their diesel emissions treatment systems.

Companies found guilty of violating EU cartel rules may face financial penalties of up to 10 per cent of their global turnover.