Companies who bought heavy to medium duty trucks may be able to able to claim damages due to the uncovering of a truck cartel involving several major truck companies.
The cartel was a price cartel for both sale prices and for cost increases with new technology being introduced. The truck companies involved in the 14 year cartel were MAN, Daimler, Iveco and Volvo/Renault, with investigations in to Scania ongoing.
Anyone who bought trucks from then between 1997 and 2011 may have a claim, with the cartel being uncovered when MAN acted as a whistle blower.
The Cartel
Gross list prices and general increases were a part of the cartel where senior mangers met regularly to discuss their plans. Artificially setting prices distorts competition – prices should be set based on competing with other brands for businesses, not by simply colluding and all agreeing what prices will be charged.
The art of competition is designed to ensure businesses can compete on a level playing field and ensure their businesses are efficient to be able to maximise their profits through fair competition. Simply agreeing prices is totally against this principle, and means that consumers are often paying more with businesses reaping higher profits for very little work.
It’s an appalling way of conducting business, and is often seen as the “easy” way around competition.
Can you claim?
If your business purchased any medium or heavy-duty trucks, directly or indirectly from any of the companies mentioned above between 1997 and 2011, you may be entitled to claim damages in UK courts for the overcharges that likely resulted from the cartel.
Any potential claimant will need to establish the amount of loss suffered, and that this was caused by the overcharges resulting from the cartel. Damages can be calculated based on the price they paid and the price they should have actually paid had the companies not been part of the price-fixing cartel.
You may also be able to claim damages for trucks if they were bought from other producers. As those involved in the cartel covered most of the market, competitors who were not involved in the cartel could have inflated their prices in line with the other companies because there was little need to compete. This could have made non-cartel vehicles higher in price than they would have been otherwise.
This difference in price may also be recoverable.
We are accepting claims and taking action
Our Competition Lawyers are taking on cases for all of those that have been affected by the truck cartel. If you have been affected by the truck cartel, we urge you to contact us. If we think you have a claim then we can help you get the compensation that you deserve.