PSA Peugeot Citroen has won a EUR5m (US$7m) reduction of a EUR49.5m fine levied by EU regulators over cross-border car sales.
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Regulators overestimated the impact on the market by not sufficiently considering price differentials, the European Court of First Instance in Luxembourg ruled today. The court cut the fine to EUR44.55m.
PSA was fined in October 2005 for denying Dutch dealers bonuses on sales to foreigners during a six-year period ending in 2003. This followed fines totaling EUR90m against Volkswagen, the former DaimlerChrysler and General Motors for preventing bargain hunters from taking advantage of price differences between EU states.
