EU antitrust regulators fines five car airbag, seatbelt suppliers for cartel

by SpeedLux
Takata air bag recall, Airbag Recall

EU antitrust regulators fined 5 car saftey devices makers an overall of 34 million euros ($40.0 million) on Wednesday for participating in cartels to fix prices for seat belts, air bags and steering wheels to Japanese automakers.

The Commission, which supervises competition policy in the European Union, stated it had identified that 4 separate cartels in which suppliers to Toyota, Suzuki and Honda coordinated over prices and markets and exchanged sensitive details between 2004 and 2010.

Tokai Rika was fined 1.8 million euros, Takata 12.7 million euros, Autoliv 8.1 million euros, Toyoda Gosei 11.3 million euros and Marutaka 156,000 euros.

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

SpeedLux

SpeedLux is a high-authority automotive blog providing the latest automotive news and reviews. SpeedLux covers everything related to cars, bikes, and motorcycles, from news and reviews, to troubleshooting guides, tips and tricks, and more. SpeedLux was born in 2009 and we have over 20,000 articles published on our blog. We thank all our readers, as well as our partners, without whom we could not have reached this level.

Subscribe

©2009 – 2024 SpeedLux – Daily Automotive News and Reviews. All Right Reserved.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More