Tire manufacturers in the sights of the European Commission. The latter has just prompted unannounced inspections of several tire manufacturers, including Michelin, Continental, Nokian and Goodyear, following suspicions of possible price-fixing in the industry.

The European Union’s competition regulator expressed concern about the matter price coordination between different companies in the sector.

Who does this concern tire manufacturers?

Although the Commission did not reveal the specific names of the companies under investigation, it clarified that the products covered by these inspections are new replacement tires designed for cars, minibuses, trucks and buses sold in Europe. For its part, Michelin hastened to resolutely deny the accusations of the European Commission. The French giant, number one in the world in the industry, confirmed its involvement in the investigation, but categorically denied any anti-competitive actions. German tire maker Continental has also confirmed that it is affected by inspections carried out in several European Union member states. A spokesman told AFP that antitrust investigations were ongoing at Continental in Germany.
Finnish rival Nokian admitted it was the target of the investigation and said it was cooperating fully with authorities. According to the manufacturer’s statement, the European Commission conducted a surprise inspection of Nokian Tires headquarters in Nokia, Finland. The American company Goodyear is also among the companies under investigation. A Goodyear representative told AFP that unscheduled inspections had taken place at their European offices, adding that it was too early to say what exactly happened, but that the company was fully cooperating with authorities. Other major players in the sector, such as Bridgestone, Pirelli, Hankook, Yokohama and Nexen, are also under close scrutiny.

What are the consequences if these companies are found guilty?

The fact that the Commission carries out these inspections is without prejudice to the culpability of the companies concerned and is a preliminary step in any investigation of alleged anti-competitive practices. Companies found guilty of such offenses may be fined up to 10% of their global annual turnover.

Please note that there is no statutory time limit for completing this type of investigation.

Read also:
Drunk driving: cars against drunk drivers from 2024!
Drunk, he uses his blinker to get faster… to the bar!
On the way to the police station, he was detained for being drunk.