Your July 21 Pre-Trip: ‘Price-fixing’ truck makers fined $3.2 billion
Here are five things worth knowing today:
1. EU fines truck makers $3.2 billion
The European Commission, executive branch of the European Union, has fined truck producers MAN, Volvo/Renault, Daimler, Iveco and DAF for price-fixing and operating a cartel aimed at delaying the installation of pollution-curbing exhaust pipes and engines, according to reports. OEMs have been fined 2.9 billion euros, or $3.2 billion. According to a New York Times report, the commission can impose fines of up to 10% of a company’s global sales for breaking EU competition laws. The companies have the right to appeal. The New York Times has more.
2. Truck platooning system market expected to grow
Research and Markets has added a “Global Truck Platooning System Market 2016-2020” report to its analysis, according to Business Wire. Analysts expect the global truck platooning system market to grow at a CAGR of 18.09% between 2016 and 2020. According to Business Wire, the report covers the present scenario and growth prospects of global truck platooning.
3. Nevada truckers help sex trafficking victims
The Nevada Trucking Association is among several around the country that has vowed to help victims of sex trafficking. According to a 2 News report, TA-Petro and the trucking association officially joined the fight against trafficking in 2011, and the association also helps rehabilitate victims and get them to better places in their lives.
4. Scania: Composites can reduce truck weight
According to a report in Prime Mover Magazine, a recent study by Swedish truck maker Scania has found that composite materials used to build a vehicle’s chassis can reduce truck weight by up to 40%. Scania reports that reduced vehicle weight means more cargo per transport shipment. Prime Mover has more.
5. GM shares rise
General Motors’ shares rose more than 6% to $33.45 in premarket trading, Fortune reports. According to the report, more than 90% of its pretax profits came from North America. Improvement was driven by demand for pickup trucks and large sport utility vehicles, Fortune said.
