Send to Kindle
Hyundai logo, photo by EPA/BGNES
The Commission for Protection of Competition (KZK) imposed a record fine of BGN 15 988 300 on Industrial Commerce EOOD, authorized dealer of car manufacturer Hyundai in Bulgaria.
The fine amounts to 10% of the company's turnover for 2012, according to the press office of the anti-trust watchdog.
Five car dealers who worked with Industrial Commerce EOOD have also been fined, including Tehnokar with BGN 291 000, Alexiev ET with BGN 83 400, Mototehnika Hristov ET with BGN 32 400, Karmobil with BGN 13 000 and Cabby Car with BGN 5000.
The penalties were imposed over concerted practices and vertical agreements between Industrial Commerce EOOD and the dealers.
According to the decision of Bulgaria's anti-trust watchdog, the contracts included anti-competitive provisions, including serious restrictions like fixing resale prices of new cars, spare parts, and servicing tariffs.
The dealers were also banned from selling cars and spare parts of competitors and from engaging in cross transactions among themselves.
The companies also had no right to sell to customers from other administrative districts.
The fines imposed by the anti-trust watchdog can be appealed before the Supreme Administrative Court within a 14-day period.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
The Italian regulatory body has taken a firm stance against TikTok, citing concerns over the proliferation of harmful content on the platform, Reuters reported
The Sofia District Court released the accused Zahari Shulev from criminal liability for the beating of the dog Mecho and imposed a fine of BGN 3,000 on him, as well as to pay BGN 998 for costs in the case
From BGN 500 to BGN 2,000 for individuals is the fine for unregulated use of firecrackers in Sofia
The European Court will probably prohibit the European Commission from fining Bulgaria for the dirty air
In Greece, all citizens over the age of 60 are required to be vaccinated against COVID-19. This is the first EU country to introduce a mandatory regime for a specific age group.
A bill to introduce compulsory vaccination against Covid-19 in Austria provides for a fine for refusing vaccination of up to 7,200 euros, the Austrian newspaper Die Presse reported, citing a document developed by the Austrian government.
Sofia, the vibrant capital of Bulgaria, is experiencing a surge in its economic landscape, surpassing the average European standard of living, according to senior researcher Peter Ganev from the Institute for Market Economics
Mounting uncertainty looms over Bulgaria's anticipated entry into the Eurozone, with officials cautioning that the prospect may be delayed amidst persisting inflation challenges
In an unexpected turn, Bulgaria and Turkey have been notably absent from the list of the ten cheapest European summer destinations for British tourists
According to the latest data released by the National Statistical Institute, Bulgarian household incomes experienced a remarkable surge in 2023, reaching an average of BGN 10,846 per household member.
The National Statistical Institute's latest report unveils a marginal annual increase in the income of Bulgarians in 2023 compared to their expenses, marking a reversal of the trend observed in 2022
In a recent interview on Nova TV, former Minister of Economy Bogdan Bogdanov expressed skepticism regarding Bulgaria's prospects of entering the Eurozone at the outset of 2025
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022
