Competition watchdog fines car leasing companies for collusion
The Swiss competition commission (COMCO) has fined eight car leasing firms a total of CHF30 million ($30.4 million) for having swapped information on rates.
This content was published on
1 minute
Keystone-SDA/Reuters/dos
The fines were announced on Thursday and come after some years of regular and systematic information exchanges between the companies on interest rates, COMCO saidExternal link. Such collusion is forbidden as it could allow car manufacturers and dealers to rig higher prices to the detriment of consumers.
The companies involved are AMAG Leasing AG, BMW Financial Services, FCA Capital Suisse SA, Multilease AG, Opel Finance SA, PSA Finance Suisse SA, RCI Finance SA, Ford Credit Switzerland, and Mercedez-Benz Financial Services Schweiz.
The last company in the list was the first company to blow the whistle on its own conduct, and thus avoided receiving any sanctions, says COMCO. All firms that self-reported to the competitions watchdog received lower sanctions.
The largest fine is for AMAG, at CHF8.5 million. Proceedings continue against Ford Credit Switzerland, who has not yet come to a settlement to put an end to the illicit practice.
The decision may be appealed to the Federal Administrative Court.
Switzerland invites 160 delegations to June Ukraine peace talks
This content was published on
Russia is currently not among the delegations invited to talks aimed at helping bring about peace in the conflict between Moscow and Ukraine.
Survey: air travel most popular way to go on holidays for Swiss
This content was published on
Despite the climate crisis, flying is the most popular mode of transport for private travel – particularly among young, urban and high-income travellers.
Swiss government to use phone data to identify asylum seekers
This content was published on
From April 2025, authorities plan to be able to analyse data from mobile phones, computers and other data carriers to identify asylum seekers.
Young undocumented migrants gain easier access to vocational training
This content was published on
Rejected asylum-seekers and young undocumented migrants in Switzerland will have easier access to basic vocational training from June 1.
Migration: Swiss government wants to shorten reunification period for families
This content was published on
Family members of people temporarily admitted to Switzerland should in future be able to join them after two years instead of three.
This content was published on
2023 was a record year for the Rhaetian Railway in several respects. Never before has the narrow-gauge railway in Graubünden, eastern Switzerland, transported so many passengers and cars.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.