Price fixing by major truck manufacturers
If you purchased medium and heavy trucks between 1997 and 2011 you may be entitled to compensation
On 19 July 2016, the European Commission (“Commission”) announced findings against 5 leading truck manufacturers. Daimler, Volvo/Renault, Iveco, MAN and DAF (the “Cartelists”) were found guilty for participating in a Trucks Cartel by fixing the price of medium and heavy duty trucks over a 14-year period between 1997 and 2011. A further truck manufacturer, Scania, remains under investigation by the Commission.
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Did you purchase or lease medium or heavy trucks from the truck cartel between 1997 and 2011? Then you most likely paid too much.
Based on a study commissioned by the European Commission some time ago, on average, international cartels resulted in damages in the amount of 20% of the purchase price. The exact damages must be determined by a recognised and reputable competition economist.
The truck cartel could also have led to higher prices for the period after 2011 as well as for trucks from manufacturers not involved in the cartel. This is already being examined by the competition economists commissioned by us.
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- Bought medium and heavy duty trucks between 1997 and 2011 from any of the Trucks cartelists.
- Leased or rented medium and heavy duty trucks between 1997 and 2011 from any of the Trucks cartelists.
It might also be possible to claim damages for trucks bought or leased after 2011 or for trucks from a non-cartelist.
Affected businesses may also be able to claim compensation from the cartelists in respect of truck purchases from Scania or other manufacturers, on the basis that the market price of trucks is likely to have been artificially increased by the Cartel regardless of whether Scania/other manufacturers are later found to have participated in the cartel behaviour.
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