European Commission fined Iveco €494.6 million for participating in the trucks cartel
Company: Iveco Group N.V.
Summary
On 19 July 2016, the European Commission announced a settlement decision finding that Iveco and other truck manufacturers coordinated gross list prices and the timing and passing-on of costs for emissions technologies over 14 years. Iveco received a 10% settlement reduction and was fined €494,606,000. This was an EU competition-law settlement, not a criminal conviction. Primary source: https://ec.europa.eu/commission/presscorner/detail/en/ip_16_2582