Spain fines automobile sector for cartel practices

Spain's competition authorities have fined 21 car manufacturers and distributors for cartel practices with a record 171 million euros (189 million U.S. dollars) fine, economic newspaper Expansion reported Wednesday.

According to the National Markets and Competition Commission (CNMC), these companies "exchanged commercially sensitive and strategic information in the Spanish vehicle distribution and after-sales market for the brands involved."

The companies fined were Spanish subsidiaries and distributors of BMW, Chevrolet, Citroen, Fiat, Chrysler, General Motors, Hyundai, Honda, Mazda, Mitsubishi, Mercedes Benz, Nissan Renault, Peugeot, Volvo and Toyota.

On the other hand, Volkswagen group, which includes VW, Audi, Skoda and Porche, and Seat were not fined because of their collaboration in providing evidence for the inspections.

Meanwhile, Spain's Association of Car Manufacturers (ANFAC) said in a press release that Spain's automobile sector was one of the most competitive in Europe.

They argue that there are more than 50 brands in the market and between 11 and 14 different models per brand that offer high levels of discounts. Enditem