German automakers likely to face heavy fines for collusion

German automakers including BMW A.G., Daimler A.G. and Volkswagen A.G. are likely to face heavy fines as the European Commission has deepened its investigation into a decade-long collusion by the companies, Handelsblatt Global reported. The fine amount depends on the turnover that comes from affected cars and the duration of the collusion. The European Commission began its investigation in July 2017, when the automakers admitted to cooperating since the 1990s in a manner that violated antitrust rules by discussing costs, suppliers and technology.

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