The companies involved in the truck cartel have received fines from the Commission of over 2.9 billion Euros. This has stemmed from a cartel that was uncovered by a whistle blower involving several major truck manufacturers.
Companies who bought heavy to medium duty trucks may be able to claim damages due to the truck cartel being investigated for breaches of the Competition Act 1998 and the Enterprise Act 2002.
Due to the truck companies involved being international and supplying to the EU, the companies also reportedly breached The Treaty of the Functioning of the European Union, thus breaching EU law.
In both the UK and the EU we have laws against certain types of agreements that may adversely affect competition in the market. This can include price fixing; controlling production and technological developments; market sharing; sharing source supplies; and other things that can lessen competition.
In the truck cartel, agreements were made for price fixing both generally and for the development of new technology. Normally this is done for companies to try and inflate prices without the need to compete with each other, since competition will generally push prices down which benefits the consumer.
Competition is healthy and allows for business to be efficient and focus on the benefits for the consumer. Price cartels do the total opposite – where prices can be unjustifiably inflated at the expense of the consumer to increase profits alone.
Our experience
With an admission by the majority of the truck firms involved in the cartel, and a fine being awarded by the Commission, those who have been affected by the cartel may be able to claim damages.
Our Group Action Lawyers are already on the case and will be pushing forward with a Group Action for any consumer businesses affected by the truck cartel. Our specialist lawyers have been fighting for the rights of group action claimants for years.
We are currently representing thousands of clients in ongoing group actions and have recovered millions for others in the past.
Contact us
With our years of experience and expertise that has helped thousands of people and businesses get the compensation they deserve on high profile cases, you can rest assured that your claim is in safe hands. We urge you to contact us if you have been affected by the truck cartel.
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