The German carmakers are in trouble with the EU.
The cartel watchdogs accuse the manufacturers of unauthorized agreements.
It could get really expensive for BMW.
Brussels / Munich / Wolfsburg - BMW is threatened with a fine in the high three-digit million range in the ongoing EU antitrust proceedings for unauthorized agreements between German car manufacturers.
The General Directorate for Competition of the EU Commission found a violation of antitrust law and informed the accused companies of the results of the investigation, reports Business Insider.
The EU investigations are directed against BMW, VW including the subsidiaries Audi and Porsche, as well as against Daimler.
It is about allegedly forbidden agreements on technical standards, including exhaust aftertreatment.
BMW: It could be really expensive for Bayern
BMW is now threatened with a fine in the high three-digit million range, it said in the report.
VW comes because of a voluntary report and the cooperation with the investigative authorities with a reduction of the sentence by around half.
BMW and VW spokesmen did not want to comment on the information with reference to the ongoing proceedings.
The EU Commission in Brussels did not want to comment either.
Daimler has described itself as a key witness in the proceedings and has repeatedly given the prospect of not having to pay any fines because of its "early and comprehensive cooperation".
BMW: Group has made provisions on the balance sheet
BMW had already set up a provision of 1.4 billion euros for the impending antitrust fine in spring 2019 because of the EU Commission's objections.
The amount of the penalty mentioned would thus already be covered and would not have any further negative impact on earnings - regardless of an outflow of financial resources that would then probably be due.
VW had not made a provision for the event.
The Wolfsburg had also offered themselves as key witnesses, but Daimler was faster.
As before, the Munich-based company is of the opinion that the talks between the car manufacturers were about technical standards, among other things, to avoid emissions and that customers were not harmed, as a spokesman explained. The group had already announced that it would also use legal means to defend itself against a possible penalty. BMW recently surprised investors with a strong start to the year. In China in particular, demand continues to grow strongly.
(dpa / utz)
