News
European truck makers fined billions for price fixing
BRUSSELS, BELGIUM -- The European Union is fining five truck makers nearly 3 billion euros (Cdn $4.3 billion) for acting as a cartel to fix prices of medium and heavy-duty trucks and time the introduction of technologies to comply with emissions rules. It's the highest fines ever imposed by the EU for a single cartel - twice the previous highest amount, imposed in 2012, according to Margrethe Vestager, the European Union's competition commissioner, in a statement. MAN (now owned by Volkswagen), Daimler, DAF (owned by Paccar), Iveco and Volvo/Renault -- which together account for around nine out of every 10 medium and heavy trucks sold in Europe -- had been working together for 14 years, from 1997 until the European Commission's investigation in 2011 put a stop to it.
Transporters bring the thunder to Honda Indy
TORONTO, ON - On the NASCAR circuit, support trucks are known as "haulers". Maybe because the term just rolls off the tongue with a southern accent. ("We haul, y'all.") But among INDYCAR teams, the tractor-trailers that move cars and equipment from one track to the next are known as transporters, and they're in Toronto for this weekend's Honda Indy.