The European Commission has fined Autoliv and TRW, both suppliers of automotive safety equipment, a total of €368 million (U.S. 416 million) for breaching EU antitrust rules. For revealing the cartel activity to the Commission, Takata was not fined.
All three suppliers took part in two cartels for the supply of car seatbelts, airbags, and steering wheels to European car producers. All three also acknowledged their involvement in the cartels and agreed to a settlement.
Specifically, Autoliv, TRW, and Takata exchanged commercially sensitive information and coordinated their market behavior for the supply of seatbelts, airbags, and steering wheels to the Volkswagen Group and the BMW Group, according to the Commission. The coordination to form and run the cartel took place mainly through meetings at the suppliers’ business premises, as well as in restaurants and hotels and through phone calls and e-mail exchanges.
In a...