VALENCIENNES, France -- PSA Peugeot Citroen Chairman Jean-Martin Folz said on Tuesday the automaker had not broken European Union competition rules and that a raid on its offices had yet to yield any formal reproach.
The European Commission said on Monday it was investigating Europe's second largest carmaker for possible "hard-core" breaches of competition law by stopping car dealers from supplying foreign customers.
Folz said raids of the firm's offices, including its head office in Paris, were part of a probe started in 1998 and that the Commission had yet to formally publish any evidence against PSA.
"They have not reproached us for anything. We have scrupulously stuck to the rules," he told a news conference, adding that if the Commission did start legal proceedings against the firm, PSA would fight them.
Folz said the fault lay with the Commission, which he said had failed to build a common European car market with common tax rules and pricing systems that would make free trade possible.
Similar previous probes concerning DaimlerChrysler and Volkswagen ended in fines of $76.2 million and $96 million respectively, among the biggest fines handed down by the Commission's competition department.