BMW’s profit decimated by expected fine
07/05/2019
Profits fell from €1.3 billion in the first quarter 2018 to €762 million this year.
However, Rolls-Royce deliveries increased by 50%.
The EU Commission is investigating whether German carmakers cooperated in technical working groups to restrict competition in the development and rollout of emission-reduction technologies.
“From the BMW Group's perspective, this situation cannot be compared with cartel investigations relating, for example, to territorial or price-fixing agreements,” said the group in a statement.
“Fundamentally, the participating engineers from the manufacturers’ development departments were concerned with improving exhaust gas treatment technologies. Unlike cartel agreements, the whole industry was aware of these discussions, which did not involve any so-called secret agreements and did not intend any detriment to either customers or suppliers in any shape or form.”
However, the Statement of Objections “leads the BMW Group to conclude that it is probable that the EU Commission will issue a significant fine”.
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