Volkswagen denies price fixing by German car-makers

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According to Volkswagen’s Chief Executive Matthias Mueller on Wednesday, said that German car-makers being investigated over possible collusion in price fixing did not engage in such act or an illegal cartel.

Mueller said at a conference in Stuttgart that such an act had never existed.

“I have no knowledge of price fixing. We very much respect the cartel law,” he said.

European Union antitrust staff raided Volkswagen, Daimler and BMW as part of an investigation into whether they conspired to fix prices on diesel and other technologies over several decades.

The EU’s competition watchdog said in July that it was investigating German car-makers in response to a tip-off after Der Spiegel magazine reported that the car-makers had colluded to the detriment of customers and foreign rivals.

The German car-makers being investigated included Daimler, BMW, VW and its Audi and Porsche arms.

Source: The guardian

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