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German car makers probed for possible price-fixing: cartel office

Tuesday, July 5, 2016 - 22:53
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The German competition watchdog said Tuesday it has raided the offices of some of the country's biggest carmakers on suspicion of they colluded to fix the price of steel.

[FRANKFURT] The German competition watchdog said Tuesday it has raided the offices of some of the country's biggest carmakers on suspicion of they colluded to fix the price of steel.

The Federal Cartel Office said in an emailed response to AFP that the premises of six companies were searched on June 23, but declined to reveal their names.

Contacted by AFP, auto giants Volkswagen, BMW and Daimler, as well as car parts maker Bosch admitted they had been targetted.

They all insisted that they were cooperating with the authorities, but declined to provide any further details.

The cartel office said the raids "do not automatically mean that the companies or people affected were guilty of any infringement of cartel law." The investigation could last several months.

AFP