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26/08/2016

Volkswagen faces yet another big EU fine

Volkswagen faces yet another big EU fine

European Commission set to impose another big fine on German carmaker Volkswagen AG for breaking competition rules

Background

The European Commission is set to impose another big fine on German carmaker Volkswagen AG for breaking competition rules. According to German newspaper Handelsblatt, VW can expect an amount in the "double-digit millions" of marks for preventing dealers from offering prices rebates for Passat cars in 1996 and 1997.

 

The European Union already fined Volkswagen 102 million euros in 1998 for hindering Italian dealers to sell cars to Germans and Austrians who wanted to take advantage of lower prices in Italy. The European Court of Justice upheld the decision but lowered the fine to 90 million euros. VW has appealed against this ruling.