Car-Parts Suppliers Fined $182 Million in Europe
BRUSSELS — European Union competition regulators said Wednesday they have fined several car parts makers a total of €141.8 million for taking part in cartels that affected automakers including Toyota Motor and Renault. The sanctions from the European Commission are expected to be the first of several against car parts suppliers, which are under investigation for fixing prices for products ranging from thermal systems to seat belts and ball bearings. American and Japanese antitrust regulators have already levied hefty fines on several parts producers, with more than 10 people jailed in the United States. The European Commission said Wednesday that the companies took part in five cartels. It imposed the biggest fine — of €125.3 million, or $161 million — on Yazaki, the Japanese company that is the world’s number one maker of wire harnesses, which transmit electricity throughout a vehicle. A Yazaki subsidiary, S-Y Systems, was fined €11 million. Furukawa Electric of Japan was fined €4 million. Leoni, a German company, was fined €1.38 million. Sumitomo Electric was not fined because it alerted regulators to the existence of the cartel. The commission said car parts affected by the cartels’ practices were sold to Toyota, Honda, Nissan and Renault. The cartels operating between 2000 and 2009, the regulator said. “Such cartels may harm the competitiveness of the automotive industry and artificially inflate prices for final buyers of cars,” the competition commissioner, Joaquín Almunia, said.
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