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Europe

EU Court Overturns Volkswagen Fine

In a major setback for the European Commission, an EU court overrules a Commission decision calling for a €30 million fine for VW's alleged price fixing.

The European Commission suffered a defeat in its handling of the giant German car manufacturer Volkswagen on Wednesday after a European court overturned its €30 million fine against the company. The Commission imposed the fine on Volkswagen for the alleged fixing of prices on its popular Passat sedans. The European Union’s Court of First Instance in Luxembourg criticized the Commission for failing to prove "any actual acquiescence by the dealers." The court said there was no evidence to prove a "concurrence of wills" between dealers and company. A Commission spokesperson admitted defeat calling the decision "very regrettable". The Commission still has the option of appealing the court to the European Court of Justice, the EU’s highest judicial body. ( Euobserver.com)