Antitrust Board Fines Carmakers 277,4 Million TL
Turkey’s Competition Board has fined 15 Turkish automotive companies a total of 277.4 million Turkish Liras for violating antitrust laws by holding talks on future pricing and their inventories.
Local Ford Otomotiv was sentenced to the highest fine, 68.8 million liras, while Tofaş, the domestic maker of Italian Fiat cars, followed with 47.8 million liras.
Top executives from the producers and sellers continued to defend themselves until a final hearing last week in Ankara.
The board finalized its investigation on 23 companies Tuesday.
One of the main pieces of evidence the board mentioned during the last hearing was an inter-company email from a Nissan executive that asked: “Have you talked with the competitors? What will they do?”
In an earlier response, a Nissan attorney said the writer of the email intended to inform Europe and Japan representatives of Nissan before they left Turkey.
“This is not systemic. It is only about conveying a fresh piece of information,” said the attorney.
Karsan, one of the three bidders for the future taxis of New York City, and Otokar, a vehicle maker also involved in the defense industry, were found not guilty on the charges, along with Borusan, General Motors, Honda, İsotlar Oto, Mazda, and Şahsuvaroğlu, according to the final decision read to parties by Erkan Yardımcı, the vice president of the board.
Yardımcı said contacts on future pricing and sales strategies, stocks and targets were evaluated by the board.
One of the basic accusations was on an alleged meeting among 13 car companies at which a short-term price increase was agreed to by all parties only three days after the end of a temporary lift on Special Consumption Tax, or SCT, in March 2009. The decision said all the accused companies implemented the agreed-upon price increase.
Four companies in 2006 and 15 companies in 2008 met to discuss whether to reflect sharp current exchange rate changes of the lira and the euro in consumer prices, the decision said.
The parties have the right to appeal a higher court.
Ford and Tofaş units declined in Istanbul trading following the announcement of the antitrust board’s decision.
Ford Otomotiv dropped 20 kuruş, or 1.4 percent, to 13.95 liras. Tofa declined 6 kuruş, or 0.7 percent, to 8.66 liras.
Antitrust violation fines (in liras)
Ford Otomotiv: 68.844 mln
Tofaş: 47.803 mln
Doğuş Otomotiv: 49.785 mln
Mais: 26.638 mln
Peugeot: 20.328 mln
Toyota: 16.841 mln
Hyundai Assan: 15.871 mln
Mercedes Benz Türk: 10.452 mln
Baylas Otomotiv: 7.061 mln
Temsa: 5.429 mln
Nissan: 4.481 mln
Çelik Motor: 3.285 mln
Anadolu Araçlar: 268,990
ALJ Otomotiv: 220,220
Mermerler: 107,708
Tuesday, April 19, 2011
SOURCE: HURRIYET DAILY NEWS
