Autoliv to pay R150m Competition Commission fine over and above EU fine
The automotive components maker’s price fixing, market division and collusive tendering affected tenders issued by manufacturers, including BMW and VW
Autoliv, one of the world’s biggest automotive components makers, will pay a R150m Competition Commission fine, having already reached a settlement in the US, Canada and EU over price fixing, market division and collusive tendering.The Sweden-based group, which manufactures airbags, seatbelts and steering wheels, has admitted it colluded with competitors TRW Automotive, Takata Group, Toyoda Gosei and Tokai Rika. This comes after the commission initiated a complaint into alleged collusive conduct in August 2012.The conduct affected tenders issued by car manufacturers, including BMW and VW, for the manufacture and supply of airbags, seatbelts and steering wheels for brands that included Polo, Golf, Passat, certain Audi ranges, and also the Porsche Cajun and Macan, and the BMW X5 and X6."Although global tenders were involved, the tenders had an effect in SA and the South African consumer was affected," the commission said on Wednesday. The commission can fine up to 10% of annual turnov...
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