Media reported about a possible price-fixing of automobile manufacturers of Germany

Moscow. July 21. INTERFAX.RU – Volkswagen AG, Daimler AG and BMW AG, the largest car manufacturers in Germany, may be involved in cartel activities, which began 20 years ago, writes the German newspaper Der Spiegel.

According to the publication, Daimler and Volkswagen have informed the authorities that the representatives of three companies from 1990-ies conducted meetings, coordinated efforts associated with the development of technology, cost management, supplier relations and overall company strategy.

The negotiations were allegedly attended by over 200 employees.

“The charges are quite serious and relate to conspiring with a length of 20 years – says the analyst of Bankhaus Metzeler j├╝rgen Pieper. – It seems bad news for the automotive sector will never end”.

BMW shares in the auction on Friday fell by 3.3%, Volkswagen – by 4.4%, Daimler – by 2.8%.