The European Antitrust is shining a spotlight on the tire market, fearing that "cartels" are operating within the European industry or that "restrictive commercial practices" of competition have been implemented.
The European Commission, we read in a note, 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.
The Commission fears "price coordination" between the companies subject to inspection, which saw European officials accompanied by colleagues from the antitrust authorities of the countries concerned.
The Commission did not reveal the names of the companies involved but Continental, Nokian, Pirelli and Michelin admitted to having been the recipients of the inspection.
"In confirming the correctness of its actions and that it has always acted in total compliance with all rules and regulations" Pirelli "is guaranteeing full support to the Authority in the context of the ongoing investigations", declared a spokesperson for Bicocca.
On the stock exchange, the sector's stocks, which risk heavy fines in the event of a cartel, have paid the price: Continental has lost 2.1%, Nokian 4.4% while Pirelli and Michelin, having lost more than 4%, have reduced their prices. final session, closing down by 0.7% and 0.8% respectively.
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