Notícias da concorrência

PS12926-PS12927-PS12928-PS12929 – The Italian Competition Authority investigates EV companies BYD, Stellantis, Tesla and Volkswagen

PRESS RELEASE

The investigations focus on the information provided to consumers regarding EV driving range, battery capacity degradation and limitations on standard battery warranties.

The Italian Competition Authority has launched four investigations into BYD Industria Italia s.r.l., Stellantis Europe S.p.A., Tesla Italy s.r.l. and Volkswagen Group Italia S.p.A. over suspected unfair commercial practices. The investigations look into the information provided to consumers on EV driving range, battery capacity degradation and limitations on standard battery warranties, potentially in breach of the Consumer Code.

In particular, the companies’ websites appear to have displayed generic – and at times contradictory – information regarding the driving range of their marketed electric vehicles, without clarifying which factors impact the advertised maximum range and the extent to which they affect the actual range.

Moreover, it seems that the companies’ websites failed to provide consumers with clear and complete information on battery capacity degradation resulting from normal vehicle use, and on the terms/limitations applied to the standard battery warranty.

An inspection at the premises of the companies BYD Industria Italia s.r.l., Stellantis Europe S.p.A., Tesla Italy s.r.l. and Volkswagen Group Italia S.p.A. was carried out yesterday by the Authority’s officials, assisted by the Special Antitrust Unit of the Italian Financial Police (Guardia di Finanza).

Rome, 21 February 2025

Competition conditions in the refining and wholesale of fuels – Bundeskartellamt presents final report on its sector inquiry

press releases 19.02.2025

published on:19.02.2025

Risks due to price assessments – Limited alternative options for regional ex-refinery fuel procurement – Very frequent price changes at petrol stations.

The Bundeskartellamt has today concluded its sector inquiry into the refining and wholesale of fuels with a comprehensive final report. In its report, the Bundeskartellamt explains the structures and pricing mechanisms at these market levels of the mineral oil sector and identifies parameters which can be adjusted to strengthen competition. The Bundeskartellamt also looked at the effects of the frequent changes in fuel prices charged at petrol stations.

Andreas Mundt, President of the Bundeskartellamt: “The inquiry has once again shown that the conditions for effective competition in the German mineral oil sector are difficult. Germany is highly dependent on crude oil imports, the markets are characterised by vertical integration and interdependences between oil companies, and market transparency is high at all levels of the value chain.

The last amendment to the German Competition Act has equipped us with a new tool to take action in markets affected by a considerable malfunctioning of competition. Based on our inquiry, we have found indications of such a malfunctioning in the markets for the wholesale of fuels and we will examine whether to open proceedings, especially to analyse the risks associated with the price assessments widely used in the industry.”

The effect of price assessments on pricing

The inquiry has found that price assessments play an important part in pricing at several levels of the value chain. Already at international level crude oil sales are usually based on such price assessments. After the oil has been processed in refineries, the oil products are sold on wholesale markets mainly on the basis of long-term supply contracts (term contracts); the volumes traded on the spot market are much smaller. In most cases, the pricing of mineral oil products in term contracts is also based on price assessments; prices are calculated using the latest price assessment value at the contractually agreed time, for example the time of delivery.

The price assessments used in Germany are largely published by two price assessment providers that offer price assessments as a paid service to the industry. They base their calculations on the latest reports and information provided by market players and usually publish their daily price assessments at the end of the trading day. In some cases they also provide sensitive market information, such as on specific transactions. As a result of the inquiry, the Bundeskartellamt has gained insights into how price assessments are compiled and how these price assessment systems affect the industry. 

Andreas Mundt: “While we do not consider price assessments to be categorically anti-competitive, we have found that the way they are currently compiled poses considerable risks to competition. One is that the publication of very detailed market information creates additional transparency as to the pricing behaviour of individual competitors. This increases the risk of collusion, meaning the risk that market players could tacitly agree on a price level above the one that would have evolved in a competitive environment. In addition, there is a risk that individual market players may manipulate price assessments to their advantage, for example by selectively reporting data.”

The Bundeskartellamt’s final report also recommends that a stricter legal framework be introduced for price assessments in the mineral oil sector and proposes that the IOSCO Principles for Oil Price Reporting Agencies be revised.

Limited alternative options for regional procurement

The trade flow analysis has shown that commercial buyers of fuels and heating oil often depend on suppliers in their region. The mineral oil products produced in Germany or imported into Germany are sold either directly ex refinery or through wholesalers. Due to high transport costs and capacity constraints, it is often uneconomical to procure oil products from more distant suppliers, making it necessary to transport them over larger distances. While tank farms are used by market players for regional distribution and intermediate storage, the inquiry has shown that they are irrelevant when it comes to pricing. With only a small number of relevant fuel and heating oil suppliers in most regions, the options for traders to switch to alternative suppliers are often limited.

Increasingly frequent price changes at petrol stations

The number of price changes at petrol stations over the course of a day has continuously increased in recent years. While prices were changed around four to five times a day in 2014, the number of price changes already reached an average of 18 times a day in early 2024 and is still on the rise. The analysis of sales data provided by individual petrol stations indicated that motorists are now less likely to succeed in refuelling during so-called “price dips” than in the past.

The Bundeskartellamt’s president, Andreas Mundt: “The frequent price changes at petrol stations are making it harder and harder for consumers to compare prices using data from our Market Transparency Unit for Fuels and to adjust their refuelling behaviour to save money.” 

The Bundeskartellamt therefore suggests that the effects of the frequent price changes at petrol stations be further examined. Based on these examinations, adequate regulatory steps could then also be considered.

Background

The sector inquiry was launched in response to the fuel price developments immediately following Russia’s attack on Ukraine in February 2022. The subsequent sharp rise in prices, which were at times decoupled from the price of crude oil, was analysed in an interim report published at the end of 2022. The report looked at the production and cost-related conditions which caused the fluctuations in prices and at how the refineries’ capacities developed. The interim report also examined the extent to which the three-month tax cut on fuels introduced in summer 2022 had been passed on to consumers (the interim report (in German only) is available here).

The final report presented today is the result of the inquiry’s second phase. Taking a broader approach, it focused on the supply streams, contractual terms and pricing structures involved in fuel trading in Germany. For this purpose, the Bundeskartellamt had asked not only tank farm operators, wholesalers and petrol stations to provide information, but also price assessment providers.

The full final report (in German only) is available here; a summary is available here.

Merger proceeding JenaValve/Edwards discontinued

News 20.02.2025

published on:20.02.2025

The Bundeskartellamt has discontinued its proceedings examining the takeover of JenaValve Technology Inc. (in the following JenaValve) by Edwards Lifesciences Corporation (in the following Edwards), which was notified in September 2024. The proposed transaction was not subject to notification under merger control. The Bundeskartellamt’s examination has shown that the national notification thresholds were not met in this case. The transaction could have been subject to merger control in Germany under the so-called transaction value threshold as the value of the consideration for the takeover exceeded 400 million euros. However, another requirement for a transaction to be notifiable under the value threshold is that the target company already has substantial operations in Germany at the time of the acquisition. The investigations have shown that this was not the case for JenaValve. As a consequence, the Bundeskartellamt discontinued its proceedings.

JenaValve produces a new type of heart valve to treat patients with aortic regurgitation (AR). Edwards is a global leader in medical innovations for structural heart disease.

Decisões da concorrência

CADE

Ato de Concentração nº 08700.001583/2025-77

Requerentes: Vale S.A. e Itaminas Comércio de Minério S.A. Aprovação sem restrições.

Ato de Concentração nº 08700.000335/2025-17

Requerentes: Tratorcase Máquinas Agrícolas S/A e Hwill – Peças para Tratores Ltda. não conhecimento da operação.

Processo nº 08700.006017/2024-71

Tipo de Processo: Ato de Concentração Ordinário

Requerentes: Allpark Empreendimentos, Participações e Serviços S.A. e Top Center Fundo de Investimento Imobiliário

Arquivamento do presente Ato de Concentração, sem análise de mérito.

Ato de Concentração nº 08700.008202/2024-08

Requerentes: Premiere Distribuidora de Veículos Ltda., Saga France Comércio de Veículos, Peças e Serviços Ltda., Saga Paris Comércio de Veículos, Peças e Serviços Ltda. Aprovação sem restrições.

Autorité de la Concurrence

Secteur(s) :

BTP

25-DCC-40
relative à la prise de contrôle exclusif de la société BSM Développement par la société Basaltes

Décision de contrôle des concentrations|

Publication du sens de la décision le : 21 février 2025

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