Competition Authority imposes billions of liras in antitrust fines on tire giants
The Competition Authority has imposed a total fine of 3 billion 633 million 935 thousand 171 liras on automotive tire manufacturers and distributors.
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In a post shared on its social media account, the Competition Authority stated, "A total fine of 3 billion 633 million liras has been imposed on automotive tire manufacturers and distributors due to concerted practices on pricing, imposing anti-competitive restrictions on dealers, and practices targeting the labor market.
The highest fine was imposed on Brisa with 1 billion 19 million liras, followed by Goodyear with 672 million liras and Continental with 397 million liras.
Domestic tire brand Petlas was issued an administrative fine of approximately 397 million liras.
Petlas was followed by Hankook with a fine of 361 million liras; while Pirelli was fined 292 million liras, Prometeon 206 million liras, and Michelin 185 million liras."