Antitrust authorities in the European Union and Britain on Tuesday fined a cartel involving some of the world’s biggest carmakers approximately 550 million euros ($594 million) for stifling competition on
vehicle recycling.
According to the European Commission, 15 manufacturers colluded to avoid paying car dismantlers and reduce consumer pressure to recycle more.
The commission fined the participants, who admitted their involvement and agreed to settle the case, a total of approximately 458 million euros.
“We have taken firm action against companies that colluded to prevent competition on recycling,”; EU antitrust chief Teresa Ribera said in a statement.
In the same statement, a parallel investigation by Britain’s Competition and Markets Authority, CMA, reached similar conclusions, fining 10 companies and two trade bodies more than £77 million ($99 million).
The cartel was exposed by Mercedes-Benz, which participated in it but received immunity and avoided substantial fines across both sides of the Channel, for cooperating with the authorities.
