China fines VW Group and Chrysler $46 million for price fixing

Article by Christian Andrei, on September 14, 2014

China's National Development and Reform Commission (NDRC), the country’s anti-monopoly regulator, has fined Volkswagen Group and Chrysler with a combined $46 million penalty for price fixing. NDRC’s branch in Shanghai has disclosed a CHY32-million ($5.22 million) for operating a price monopoly.

The regulator’s Hubei branch said it would impose a CHY249-million penalty against the sales unit of FAW-Volkswagen Automobile Co. Ltd. for price fixing at its Audi sales unit. NDRC also disclosed that three Chrysler dealers in Shanghai and eight Audi dealers in Hubei would also be fined.

NDRC has already announced that it had concluded the Chrysler and Audi had breached the anti-monopoly law, with the latter admitting to "partially" violating the rules.

The fine imposed against Chrysler and Audi means that similar penalties could be expected for other global carmakers also being investigated for possible anti-competitive behavior by Chinese authorities, like Mercedes-Benz and Jaguar Land Rover.

China is probing into a number of industries, including the auto industry, as part of its bid to have companies comply with its anti-monopoly law. In August, China fined 12 Japanese suppliers around CHY1.235 billion for manipulating prices.

Topics: china, vw, chrysler

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

Nearly a decade after Opel and sister brand Vauxhall introduced the Insignia large family car, these companies are now getting ready to unveil the second generation of this offering from...
by - December 7, 2016
After we caught a glimpse of the revamped Amarok, VW Australia once again wants to give its ute a sinister look inspired by the Mad Max movie franchise. The “Korama”...
by - December 7, 2016
Customers in the European market are known for leaning towards style and with this in mind, Nissan has revealed the special LEAF Black Edition. While the production run of this...
by - December 7, 2016
When Volkswagen unveiled the VW Atlas, it declared that this SUV is being developed for the United States and is set to arrive as a 2018 model. It also unveiled...
by - December 7, 2016
Did you miss the opportunity to get a brand new Dodge Viper? Well, here’s something you don’t want to miss. Dodge has announced a “final call” for orders for its...
by - December 6, 2016
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries