Competition Authorities Vs Car Parts Makers
For the past five years, competition authorities from the United States, Europe and across Asia have investigated multiple cartels in the car parts market and imposed heavy fines on car parts makers. More investigations are in the pipeline.
Car parts makers have colluded for years to inflate parts prices for carmakers, dealers and repair shops in a global market. European Competition Commissioner Joaquin Almunia, who has imposed more than Euro 1 billion in fines against two car parts cartels in 2013, said he was ready to take more action. J. Almunia will leave office at the end of October 2014 and would hand over a “long list of other investigations in this sector” to his successor Ms Vestager.