Parking Merger Could Increase Costs to Up to $50 an Hour, ACCC Raises Concerns

Consumer watchdog flags concerns over parking company acquisition as expert warns merger could send parking costs up to '$50 an hour'

Both companies specialise in managing parking facilities and operate the majority of parking metres in Australia. "We are concerned that the proposed acquisition would substantially lessen competition in the market for end to end on-street parking solutions as Duncan is the primary competitor to Orikan," Dr Williams said in a release.

"We consider that the proposed acquisition is likely to lead to less competitive tender responses to local councils seeking on-street parking solutions and reduce innovation."Recent figures by real estate group Ray White discovered motorists in Brisbane pay the most for parking at $79.83 a day. Picture: Annette Dew.

"Orikan account for about half of all local council contracts, while Duncan take up about a quarter," he told news.com.au "It is already frustrating to park as it is. Those meters that are preset at $10 and motorists have to keep pressing to get it to what they want, but if you think it’s bad now, wait until these two dominant companies merge," he said.

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Parking Price Hike Looms As Industry Giants Plan MergerThe proposed merger between Orikan and Duncan Solutions, the two largest players in the parking and payment industry, could lead to a monopoly, allowing them to increase prices without competition. Concerns are raised about potential market dominance, pricing freedom, and the impact on consumers.
منبع: 9NewsAUS - 🏆 10. / 72 ادامه مطلب »