Investigation into collusion, price fixing in car industry

2014-10-13 11:23

The Competition Commission is investigating price fixing and collusive tendering in the motor vehicle industry, and top Japanese component suppliers Panasonic and Mitsubishi are among those being probed.

Information received by the Competition Commission suggested collusion among automotive component manufacturers when bidding for tenders to supply parts, such as electric power steering and spark plugs, to car makers.

“The commission will prioritise the investigation of cases that involve automotive components that are in vehicles assembled in and supplied to the South Africa market,” commissioner Tembinkosi Bonakele said today.

Competition authorities said information in their possession pointed to 82 component manufacturers colluding over prices for 121 different automotive parts in the 14 years since 2000.

Officials have clamped down hard on collusive activity, fining construction companies millions of rands recently in a bid to break anticompetitive behaviour.

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.

Inside News24

 
/News

Book flights

Compare, Book, Fly

Traffic Alerts
There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.




Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.