Truck companies have been hit with a record €3 billion fine from the European Union over price fixing

The European Union has fined four truck manufacturers a record €2.93bn (£2.46bn) for colluding on prices and passing on the costs of emissions-reducing technology.

VW-owned MAN avoided a fine when it blew the whistle on the cartel.

Daimler said it regretted these events and took appropriate action some time ago.

“The company has strengthened its internal controls and intensified its regular and comprehensive training for employees regarding antitrust and competition law,” it said in a statement.

It is the highest penalty ever imposed by the European Union on a cartel, and more than double the previous record.

“These truck makers have colluded for 14 years over pricing trucks and passing on the costs of complying with stricter emissions rules,” the EU statement said.

EU Competition Commissioner Margrethe Vestager said the fines were a “clear message to companies that cartels are unacceptable.”

It added that truck manufacturers were responsible for nine out of 10 medium and heavy trucks produced in Europe.

But the EU said the collusion was not aimed at avoiding or manipulating compliance with new emissions standards, and its investigation found no evidence of the use of emissions cheating software.

The investigation found that between 1997 and 2004, meetings were held at senior manager level, sometimes on the sidelines of trade shows or other events, to discuss their plans.

This was supplemented by telephone conversations.

From 2004 onwards, the cartel was organized through German subsidiaries of truck producers, with participants generally exchanging information via email.

Daimler received the largest fine of 1.01 billion euros. Swedish Volvo was fined €670.4 million, and Iveco, part of Italian truck and tractor maker CNH Industrial, was fined €494.6 million.

DAF Trucks, owned by the American group Paccar, received a fine of 752.7 million euros.

The four companies admitted to committing violations in exchange for a 10% reduction in the penalties imposed on them.

Scania, another Volkswagen subsidiary, has not reached a settlement and will remain under investigation.

There are more than 30 million trucks on European roads, accounting for about three-quarters of Europe’s domestic freight transport.