German carmakers colluded on diesel controls, technology for decades: report
Another week, another scare from the German car industry.
What began with Daimler’s massive recall of more than 3 million diesel cars to lower their emissions, ended on Friday with Audi also embarking on a voluntary recall of 850,000 vehicles. Adding to the spate of bad news was a report in Der Spiegel magazine that the biggest car manufacturers — Daimler, BMW and Volkswagen as well as VW’s Audi and Porsche brands — may have colluded for decades on technology. The companies declined to comment.
Shares of BMW, VW and Daimler tumbled on the report, which cited a document submitted by Volkswagen in July 2016 and referenced another from Daimler. The German cartel office said in a statement that it searched the car companies last year as part of a probe into a possible steel cartel…
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