14 October 2014
The Competition Commission said it has launched an
investigation into allegations of price-fixing in the automotive industry.
In a statement the commission said information it has
in its possession suggests that from 2000 to date, 82 automotive component
manufacturers have colluded in respect of 121 automotive components.
Commission Spokesperson Mava Scott said what happens
is that when the is a new design of a car that is coming into the market tender
would be patronize by these big players upon which the manufacturers of
automotive components often submit tenders.
“This where we have found the convention of the act
because they have met and discussed prices, they have exchanged competition
information which are all in contravention of the act.” Scott added.
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