BMW raided in cartel investigation as Daimler claims immunity

Thrugelmir

Another bad news story for the German car industry.

BMW’s (BMWG.DE) headquarters were raided by European Union officials investigating an alleged cartel among German carmakers, it said on Friday, as rival Daimler (DAIGn.DE) claimed whistleblower status in an effort to avoid fines.

EU staff had “conducted an inspection” at BMW’s Munich offices this week, the premium carmaker said in a statement, adding that it is “assisting the European Commission in its work”.

The EU’s Brussels executive said its antitrust officials had swooped unannounced on “a carmaker in Germany” on Monday Oct. 16 in the first confirmed raid related to allegations that several German automakers had engaged in an illegal cartel.

The competition watchdog said in July that it was investigating collusion among German carmakers in response to a tip-off after Der Spiegel magazine reported that Daimler, BMW, Volkswagen (VOWG_p.DE) and its Audi and Porsche arms conspired to fix prices in diesel and other technologies over decades.

http://uk.reuters.com/article/us-eu-antitrust-bmw/bmw-raided-in-cartel-investigation-as-daimler-claims-immunity-idUKKBN1CP1QU

michaels

It will be interesting to see how the eu pursues claims against German companies. Not as zealously as they have gone after the likes of microsoft and google one suspects.

Eric_the_half_a_bee

Investigators allege that BMW have been selling cars that cost the same to make as other marques at a 30% price premium.

michaels

Eric_the_half_a_bee wrote: »

Investigators allege that BMW have been selling cars that cost the same to make as other marques at a 30% price premium.

Apparently consumers in the UK are particularly gullible when it comes to paying a huge price premium for anything from a German marque (regardless of where in the world it is manufactured) whilst rejecting other products that are made in Germany but without the all important German brand.