This would be stunning, if true.
Antitrust officials confirmed Saturday that they are investigating claims that the country’s major carmakers may have been operating a cartel since the 1990s, colluding on everything from vehicle development and engines, to suppliers and diesel emissions systems.
“The European Commission and the Bundeskartellamt [German cartel office] have received information on this matter, which is currently being assessed by the commission,” the European Commission said in a statement.
“It is premature at this stage to speculate further.”
The automotive industry accounts for about 20% of total industry revenue in Germany, and employs about 800,000 people in the country.
VW is already weakened by its emissions cheating scandal. If this is true and further cripples those companies, one wonders if there will be more opportunity for a resurgence from America’s auto manufacturers.
Not likely. First off, the “VW Scandal” will not have a long-term effect, aside from inside the MSM (yes, there is such a thing even in the ‘car-writer’ corps) and in D.C., which–to no one’s surprise–is influenced by the US manufacturers.
Except for one small thing: “US manufacturers” include Porsche, BMW, and VW. They all have plants here. Benz may be a cartel member, and not one single Benz buyer gives a rotten fig. Not one.
Meantime, the European ops of GM were sold because GM could not redeem them from losses, near-term or longer-term. Ford is barely making money over there, and Fiat?–well, uhmmmnnnhhhh….yes, that’s Fiat.
US manufacturers may gain ground here, but it will be marginal.
But if you’re looking long-term and want an automotive play, consider: Japan will be disappearing as a country in about 50 years or so.
“Japan will be disappearing as a country in about 50 years or so”.
How so?
Hey, what can I say? I’m a natural optimist ;)
LeR: demographics. You can google that and get the idea faster than I can copy/paste the same info.
dad:
Interesting. Too bad we won’t be around to see how it turns out.
The French (Peugeot bought up Opel) and Italians (Fiat was essentially handed Chrysler on the cheap) are eyeing up the remainder of the German auto industry.