The Italian Competition Authority finds a cartel in the market for car hire purchase and imposes a record fine (Car Finance)

In the Car Finance case [1] the Italian Competition Authority (ICA) has levied a record-breaking fine of overall € 670 million on the participants to a secret cartel affecting the business sector of car hire purchase. The anticompetitive agreement was put in place by several car manufacturers, BMW, FCA Italy, Ford Motor Company, General Motors Company, Daimler, Renault, Toyota Motor Corporation and Volkswagen; associated captive banks, Banca PSA Italia, Banque PSA France, BMW Bank, FCA Bank Spa, FCA Bank Plc, General Motor Financial Italia, Mercedes Benz Financial Services Italia (Mercedes Bens FS), RCI Banque, Toyota Financial Services and Volkswagen Bank; two credit consumer banks, Santader Consumer Bank and CA Consumer Finance; a trade association regrouping car lessors, Assilea

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  • Desogus Law Office (Cagliari)

Quotation

Michele Giannino, The Italian Competition Authority finds a cartel in the market for car hire purchase and imposes a record fine (Car Finance), 20 December 2018, e-Competitions Bulletin December 2018, Art. N° 88961

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