Irish hauliers could sue the truck makers on which the EU yesterday imposed a record €2.9 billion fine for price fixing.
The European Commission yesterday fined truck manufacturers Daimler, DAF, Iveco and Volvo/Renault €2.93 billion after finding that they ran a price-fixing cartel between 1997 and 2011.
Volkswagen-owned MAN was also involved in the scheme, but escaped a penalty because it tipped off the commission to the cartel’s existence.
Under European law, Irish trucking companies that bought vehicles made by any of the companies during the period can sue the manufacturers if they believe they suffered damage as a result of the price fixing.
President of Irish Road Hauliers' Association Verona Murphy confirmed that new legislation due to come into force in the Republic by the end of this year would make it easier for anyone in this jurisdiction to take action against the companies found guilty of price fixing.
Ms Murphy explained the new law, an EU directive, is due to come into force here by December 27th this year. It will allow Irish people to sue in the Republic’s courts on foot of rulings by other European competition authorities.
She added it was likely some of the companies that her organisation represents could take legal action as a result of the European Commission’s ruling against the five manufacturers.
“If any of our members need to take a case then we will assist them in that,” Ms Murphy said.
EU competition commissioner Margrethe Vestager accused the five companies of colluding to fix prices and dodge the costs of stricter pollution rules.
“We are imposing the highest fine ever for a single cartel, but there are good reasons for this,” she told a press conference. “In particular, this cartel involves a very large market and continued for a very long time.”
She pointed out that the five accounted for nine out of 10 of the medium and heavy vehicles sold in the EU. In all, there are 30 million trucks on Europe’s roads.
"Our investigation showed that a meeting in Brussels was the starting point of this long-lasting trucks cartel," she said.
“ The first meeting between senior managers of the trucks producers fined today was organised right here in January 1997, in a cosy hotel. This was the beginning of a 14-year-long collusion.”
Daimler received the biggest fine at €1.01 billion. DAF Trucks, owned by Paccar, was handed a penalty €752.68 million. The four companies admitted wrongdoing in return for a 10 per cent cut in the penalties imposed.
