EU regulators slap record 2.93 billion euro cartel fine on truckmakers

BRUSSELS - EU antitrust regulators handed down a record 2.93-billion-euro ($3.24 billion) fine on German carmaker Daimler, Paccar, Volvo/Renault and Iveco on Tuesday for taking part in a cartel related to emissions-reducing technology.

Daimler received the biggest fine at 1.01 billion euros while Volkswagen-owned MAN escaped a fine as it alerted the cartel to the European Commission.

Volvo's fine came to 670.4 million euros and Iveco, which is part of Italian truck and tractor maker CNH Industrial, was 494.6 million euros.

DAF Trucks, owned by Paccar, had a 752.7 million euro fine. The four companies admitted wrongdoing in return for a 10 percent cut in their sanctions. Scania, another Volkswagen subsidiary, did not settle and will continue to be under investigation.

"These truck makers colluded for 14 years on truck pricing and on passing on the costs of compliance with stricter emission rules," the EU competition enforcer said in a statement.

($1 = 0.9041 euros)

(Reporting by Foo Yun Chee; editing by Philip Blenkinsop)