Automobile maker, BMW received a surprise visit from antitrust investigators at its Munich headquarters on Friday, October 20. The investigations were conducted to look into any possibility of an illegal collusion among German automakers.
The European antitrust authorities stated in July that were investigating allegations against Volkswagen, Daimler and BMW.
The allegations registered claimed that the companies had conspired to hold down the prices of crucial technology. This technology could include emissions equipment.
In the past, Volkswagen has suffered terribly on account of such claims.
In an effort to avoid the kind of damage inflicted on Volkswagen’s reputation BMW immediately released a statement to dispel the implications.
The statement made by the company said that it wished to clear the “distinction between potential violations of antitrust law… and illegal manipulation of exhaust gas treatment”. It added that the BMW group had not been “accused of the latter”.
Spurred into action by the raid, Daimler stated that it would provide evidence about the alleged conspiracy in return for lower penalties.
The European Commission reserves the right to reduce the fines imposed on companies if they volunteer information.
New research revealing that most diesel cars produce more harmful nitrogen oxide emissions in everyday use has put carmakers in a fix. They are now struggling to cope with the backlash against diesel engines.
German carmakers have routinely met for a number of years to discuss the technical standards for components.
Such discussions would have been illegal if the manufactures surreptitiously agreed to limit the competition in certain areas.
Although no hard evidence has come to light, the European Commission has described the raid as a preliminary step in the investigation.