DAF has to pay a huge fine of 753 million euros after illegal price agreements with other truck makers. Also Daimler, Iveco and Volvo / Renault have to pay, totalling nearly 3 billion euro for all the companies involved.
It is the largest fine ever for cartels. The companies made price agreements for their vehicles, and this is against European rules to ensure market competition.
The truck company MAN was also involved in the agreements, but were not fined, since they reported the price fixing to the policymakers in Brussels.
DAF has been reserving cash recently in preperation for payment of the fine.
Source: Studio040
Translator: Peter Marijnissen
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