The European Union is fining five truck makers nearly 3 billion euros for acting as a cartel to fix prices of medium and heavy-duty trucks and time the introduction of technologies to comply with emissions rules. It's the highest fines ever imposed by the EU for a single cartel -twice the previous highest amount, imposed in 2012. MAN (owned by Volkswagen), Daimler, DAF (owned by Paccar), Iveco and Volvo/Renault, which together account for around nine out of every 10 medium and heavy trucks sold in Europe, had been working together for 14 years, from 1997 until the European Commission's investigation in 2011 put a stop to it.
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