19 firms being looked into for price-fixing since 2006
30 September 2009

Turkey’s Competition Board has launched an investigation into alleged price-fixing involving 19 car manufactures which operate in the country.

The board claims the 19 firms have been sharing targets, stock information and sales and pricing strategies.

Firms under investigation include the Turkish arms of Daihatsu, General Motors, Honda, Hyundai, Mercedes-Benz, Nissan, Peugeot and Toyota.

Turkey's close proximity to Europe and its relativly lower labour costs has attracted foreign carmakers to the country, transforming the automotive sector its largest exporter.

None of the affected manufacturers have commented on the allegations.

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