27 Sep 2010

Tyre traders admit price-fixing

1:39 pm on 27 September 2010

The Commerce Commission has reached a settlement with two tyre traders operating on internet auction site TradeMe.

The commission says the sellers, Tyre Guys and Adens Trading, contacted each other by text message and email to fix prices on tyres, which is illegal under the Commerce Act.

Enforcement acting general manager Ritchie Hutton says the price-fixing only took place for a short time, but consumers were likely to have paid more than they otherwise would.

Both sellers admitted their behaviour and have agreed to undertake training at their own expense about the requirements of the Commerce Act.