Truck makers face fines as EU steps up cartel investigation

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If it wasn’t enough that the trucking industry has had to deal with driver shortages and soaring fuel costs – until six months ago anyway – comes the news that the leading truck manufacturers are under investigation by the EC for alleged price-fixing. It’s a very complex case, but according to new competition commissioner Margrethe Vestage, if proved to be correct, there will be little room for the manufacturers to reach settlements. And Volvo and Daimler have already warned shareholders that some swingeing fines may be o the way – companies can be fined up to 10% of corporate profits for co-ordinating on pricing.