Eu Fines Vw Record 102 Million Ecus

The European Commission fined Volkswagen AG a record 102 million Ecus ($112 million) for allegedly barring its Italian distributor from selling cars to people living in Germany and Austria. In a hard-hitting statement, the Commission said VW, its Audi unit and their Italian distributor had, over the last decade, systematically rejected orders from foreign customers seeking to take advantage of lower Italian car prices. Volkswagen had three months to pay the fine, and two months to take all necessary measures to eliminate the restrictive practices, the Commission said. Volkswagen, Europe's largest car maker, immediately slammed the Commission's decision, saying it smacked of a political campaign and vowed to challenge it in the EU's court of justice. Reuters