Data provided by iNet BFA
Loading...
See More

Mercedes-Benz UK fined for price-fixing

Feb 21 2013 13:12 Reuters
Merc

(File) (Shutterstock)

Related Articles

MBSA boasts rise in revenue

Mercedes takes US luxury car crown

Mercedes, BMW vie for luxury car crown

Daimler posts stellar results

BMW sales lead other luxury car makers

Mercedes-Benz pulls out of Naamsa stats

 

London - Daimler’s Mercedes-Benz and three of its British commercial vehicle dealers have been fined £2.6m by Britain's competition watchdog for price-fixing.

The Office of Fair Trading said on Thursday that there had been three admitted competition law infringements involving market sharing, price coordination and the exchange of commercially sensitive information over the sale and distribution of the German automaker's vans and trucks between 2008 and 2010.

The fines have been levied against the Ciceley, Road Range and Enza dealerships, which are active in northern England and parts of Wales and Scotland, the OFT said.

"These cases send a clear signal that the OFT will take firm action against companies that collude to deny customers the benefit of fair competition regardless of the size of the firms involved or geographic scope of the investigation," said Ali Nikpay, the OFT's senior director of cartels.

The OFT said it had agreed to reduce the fines by 15% to reflect the companies' cooperation.

Mercedes-Benz UK said it "regrets the incident" and has since strengthened its internal controls.

"The company and its staff have fully co-operated with the investigators over the past three years," the firm said in a statement.

Based on its turnover, Mercedez-Benz' settlement figure was £1.49m, it added.  

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

mercedes benz  |  price-fixing
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

A cash flow crunch often occurs in small businesses trying to balance cash coming in with cash going out. Watch this video to help you improve.
 
 

Passive investment for retirement

The use of passive investment products, like Exchange Traded Funds, to deliver low-cost investment performance is taking off.

 
 

Start saving...

Time the key for retirement saving
Dummy's guide to saving
Save money with affordable account
All about endowments

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...