TVM has also joined the claim against truck manufacturers that were guilty of cartelisation for years. The insurer is joining hands with Transport en Logistiek Nederland (TLN) and law firm Hausfeld & Co.
The parties are demanding compensation for additional costs incurred by buyers at the time of the cartel. Truck manufacturers Renault/Volvo, DAF, Iveco, Daimler and MAN formed a cartel for 14 years, as a result of which some 600 thousand hauliers overpaid for their trucks. The cartel members had been talking to each other since 1997. They did so by phone and at trade fairs and other events. The European Commission fined the companies over €2.9 billion last year. Daimler received the highest fine: a sum of €1 billion. MAN was the only manufacturer in the cartel not to have to pay a fine because it sounded the alarm with the European Commission.
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1.2 billion euros overpaid
In the 14 years of the cartel, some 240,000 trucks were sold in the Netherlands. The extra costs for buyers in several countries would total 1.2 billion euros. Earlier, TLN announced that it was preparing a claim against the manufacturers. To do so, it engaged law firm Hausfeld & Co. The trade association called on other parties to join the claim.
Putting pressure on truck manufacturers
TVM, together with TLN, expects to put pressure on the truck manufacturers for appropriate compensation. It says the two parties represent most of the transport sector in the Netherlands. The insurer is investigating whether it can help aggrieved operators substantiate their claims.
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