Volkswagen CEO rejects price fixing by German automakers

CEO Matthias Mueller

German automakers being investigated over possible collusion did not take part in cost fixing or a prohibited cartel, Volkswagen‘s CEO Matthias Mueller stated on Wednesday.

European Union antitrust personnel have raided Volkswagen, Daimler and BMW as part of an investigation if they conspired to fix prices in diesel and other technologies over numerous decades.

“I have no understanding of price fixing,” Mueller stated at a conference in Stuttgart. “We very much respect the cartel law.”

Mueller’s remark chimes with remarks made by his counterpart at Daimler, Dieter Zetsche, who informed the conference late on Tuesday that cooperation among German rivals was for the good of clients car and had not damaged them.

The EU’s rivalry watchdog stated in July that it was investigating German automakers in reaction to a tip-off after Der Spiegel magazine reported that Daimler, BMW, Volkswagen and its Audi and Porsche arms had colluded to the detriment of consumers and foreign competitors.

Mueller stated the German automakers had complied on standardization issues under the leadership of Germany’s VDA industry lobby, without being more detailed.

On Wednesday, Mueller also stated Volkswagen could cope with a Chinese compromise on electric car quotas to fight air pollution. Beijing wants electric and hybrid vehicles to make up a minimum of a fifth of China’s automobile sales by 2025 and plans to loosen joint-venture regulations to accomplish its aim.

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