EU fines 15 major carmakers €458 million

The European Commission announced that it had imposed fines totaling nearly 458 million euros on 15 major automakers and the European Automobile Manufacturers Association (ACEA) for participating in an anti-competitive "Scrapped Car Recycling Alliance." Volkswagen, Renault, and Stellantis faced the highest fines of 128 million euros, 81 million euros, and about 75 million euros, respectively. ACEA was fined 500,000 euros. Mercedes-Benz was fully exempted from paying a fine of nearly 35 million euros for disclosing the alliance.