Posted by meb at April 19th, 2011
Turkeyâ€™s Competition Board has fined 15 Turkish automotive companies a total of 277.4 million Turkish Liras for violating antitrust laws by holding talks on future pricing and their inventories.
Local Ford Otomotiv was sentenced to the highest fine, 68.8 million liras, while TofaÅŸ, the domestic maker of Italian Fiat cars, followed with 47.8 million liras.
Top executives from the producers and sellers continued to defend themselves until a final hearing last week in Ankara.
The board finalized its investigation on 23 companies Tuesday.
One of the main pieces of evidence the board mentioned during the last hearing was an inter-company email from a Nissan executive that asked: â€œHave you talked with the competitors? What will they do?â€ (more…)