Truck manufacturers Daimler, DAF, Iveco, MAN and Volvo-Renault have been fined €2.93 billion by EU Regulators for the cartel style price fixing of trucks over the past 14 years. VW owned MAN avoided penalty by singing first, although you can understand why following VW’s recent €14.7 billion settlement over the Emissions cheating scandal. Perhaps they should let the dust settle a while before seeking further ways to deceive the paying public. The amusingly optimistic Paccar, which owns DAF, said its fine was actually less than they had set aside.
Relevant for Irish hauliers is this; Irish trucking companies that bought vehicles made by any of the above manufacturers during this period, 1997 – 2011, can sue the manufacturers if they believe they suffered damage as a result of the price fixing. In fact there is an EU directive due to come into force here shortly that will allow Irish people to sue in this jurisdiction on foot of rulings by other European competition authorities.
Here at John Gaynor & Co Solicitors, Thomas Street, Dublin 8, we have vast experience in tackling such matters and would welcome any questions or queries in this regard.
Written by David O’Dowd, partner at John Gaynor and Company.