Turkey Slams Tyre Giants with Multi-Billion Lira Fines for Antitrust Breaches

Turkey's competition authority has imposed fines totaling 3.633 billion lira on tire producers and distributors for price coordination, dealer restrictions, and labor market violations. Brisa faced the highest penalty, followed by Goodyear and Continental. The infractions included coordinated pricing strategies and the improper exchange of sensitive labor information.

In a significant move, Turkey's competition authority announced on Tuesday a substantial fine of 3.633 billion lira ($78.47 million) against tire manufacturers and distributors, citing violations such as price coordination, anti-competitive dealer restrictions, and labor market breaches.

Brisa incurred the heftiest penalty, amounting to 1.02 billion lira, with Goodyear and Continental also facing severe fines of 672 million lira and 397 million lira respectively, according to the authority's statement.

The infractions were primarily centered around coordinated pricing tactics among competitors and the inappropriate sharing of sensitive labor market information, the authority outlined in its revelations. ($1 = 46.2967 liras)