The FPS is now working closely with Hausfeld Solicitors with company currently representing over 44 UK-based FPS members in making a claim against the manufacturers on a no-win no-fee basis.
In February 2017, claims against the truck manufacturers found guilty by the EC were brought before the competition division of the High Court by affected hauliers in the Republic of Ireland where the FPS is working with O’Dwyers Solicitors.
“The EC’s 5-year investigation into the European truck manufacturing industry concluded that five of the major firms were guilty of running a price fixing cartel across a 14-year period, from 1997 to 2011,” reports FPS chief executive Guy Pulham.
“The cartel affected the pricing of trucks across the European Economic Area and was also found guilty of passing on costs linked with emission technologies needed to meet strict European standards. This is something that impacts all tanker owners, including our members.”
The EC imposed record-breaking fines on the five manufacturers of €2.9 billion, although MAN avoided any fines as it was the first to report the cartel. However, truck owners can still claim for the surcharges of MAN’s trucks in court.
Any business which purchased trucks affected by the cartel has a right to claim compensation in court for any loss which they suffered as a result of the higher prices which they had to pay for trucks due to the price fixing, together with interest since the date of purchase. This will include trucks purchased from MAN, Volvo/Renault, Daimler, Iveco and DAF between 1997-2011.
“As the recognised body for the industry we have more than 123 distributor members and the majority are in the UK,” explains Guy Pulham.
“Working closely with heating oil industry group FLARE, we’re delighted to have secured the services of Hausfeld Solicitors to assist our members. Especially as they’re willing to act on behalf of our members on a no-win no-fee basis and are highly qualified to do so, as competition litigation specialists already working with truck associations in Germany, Denmark, Sweden, France, Portugal, Norway and the Netherlands as well as in the UK.
“Companies and individuals who purchased medium and heavy-duty trucks from the implicated manufacturers between 1997 and 2011 have a right to claim compensation for any loss incurred due to the higher prices paid as a result of the price fixing as well as for any interest since the purchase date.
“Hausfeld has advised that our members are likely to recover compensation against the truck price fixing cartel and they could reasonably expect compensation of up to €4,500 per truck plus interest, assuming an average price per truck of €60,000,” added Guy.
“The FPS will co-ordinate all claims on behalf of its members in the UK who wish to secure compensation as we believe that we’re in a far stronger position when we stand together – it makes total sense to pool our resources and share the risks whilst maintaining control of the process,” said Guy.
“By making a stand as one and working together with the help of Hausfeld, we are likely to gain much more than by making a claim on an individual basis.
“We are fully committed to supporting our members and will do all we can to find the right resolution for those affected by the truck cartel.”