The European Commission is carrying out unannounced inspections at the headquarters of companies in several Member States. The products being investigated are new tires for cars, vans, trucks and buses sold in the European Economic Area.
Continental, Nokian, Pirelli and Michelin admitted to having been the recipients of the inspection. On the stock exchange, the sector's stocks, which risk heavy fines in the event of a cartel, have paid the price. The Commission fears "price coordination" between the companies subject to inspection.