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BMW probe into cartel allegations could run into 2018: CEO
November 7, 2017 / 2:31 PM / 13 days ago

BMW probe into cartel allegations could run into 2018: CEO

BERLIN (Reuters) - BMW (BMWG.DE) may take until next year to conclude an internal investigation of alleged collusion between German carmakers, Chief Executive Harald Krueger said on Tuesday.

BMW, Daimler (DAIGn.DE) and Volkswagen (VOWG_p.DE) were raided by European Union and German antitrust staff last month over allegations that they had collaborated to set pricing and technology standards to the detriment of foreign rivals and customers.

“The investigation will continue over the next weeks,” Krueger said on an conference call, adding the in-house probe could take until next year.

Asked whether BMW would be able to quantify possible risks from the allegations once it had concluded its fact-finding operation, Krueger said: “As of today we don’t know this at all.”

Separately, the CEO said volume growth at BMW will continue in November, December and next year, fueled by the forthcoming X2 and X3 sport-utility vehicle and global availability of the redesigned 5-Series.

Reporting by Andreas Cremer; Editing by Maria Sheahan

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