BMW investigation into cartel allegations requires more time

BMW has hired a law firm to assist with an internal investigation of a supposed cartel among German automakers and requires more time before any conclusions can be drawn, CEO Harald Krueger stated.

“Of course we will keep investigating this,” Krueger stated on Tuesday. “This is going to take a while.”

BMW, Daimler and Volkswagen have been raided by European Union and German antitrust authorities last month concerning allegations that they had engaged in an illegal cartel to fix prices in diesel and other innovations over years.

Independently, finance chief Nicolas Peter stated provisions made in the 3rd quarter were not connected to cartel accusations however, above all, related to patent and provider issues.