Volvo Group says it has decided to make a provision of EUR400m in respect of an on-going antitrust investigation by the European Commission into heavy truck pricing and the possibility of collusion between a number of European heavy truck makers.
Volvo said the provision will impact the operating income negatively in the fourth quarter 2014.
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Volvo noted that the European Commission proceedings are still at an early stage and there are a number of uncertainties associated with the final outcome of the Commission’s investigation as well as the amount of a potential fine.
The Volvo Group will re-assess the size of the provision regularly following the development of the proceedings, it said.
