The competition commission says it is impossible to issue an update on its inquest into alleged price fixing by manufacturers because it “forms part of the investigation.”
The competition commission says it is impossible to issue an update on its inquest into alleged price fixing by manufacturers because it “forms part of the investigation.”
The commission’s compliance division manager Zodwa Ntuli said a team had been established, a plan of action formulated and the investigation had begun. However, Ntuli would not speculate about how long the investigation would take or how many companies had been subpoenaed.
Ntuli said: “We don’t want to compromise our investigation and for people to be tried through the media.”
CARtoday.com reported recently that the formal investigation into high car prices and a number of alleged violations of the Competition Act, including minimum resale price maintenance, was launched by the commission earlier this month.
When the commission announced it was launching the investigation, it said some major motor manufacturers and importers of vehicles would be investigated but its investigation would ultimately cover the whole market for new vehicles.
A spokesman for the commission said information gathered over the past few weeks suggested it was almost a standard practice among manufacturers and importers of new motor vehicles to maintain minimum prices.
