Jaguar Land Rover to cut prices of 3 models in China following probe

Article by Andrew Christian, on July 28, 2014

Jaguar Land Rover is planning to trim the prices of its three models -- Ranger Rover 5.0 V8, Ranger Rover Sport 5.0 V8 and Jaguar F-Type Cabriolet -- in China following the launch of the government's anti-monopoly probe.

Effective August 1, 2014, the models will their prices trimmed by an average of CHY200,000 ($32,300) starting Aug. 1, after the National Development and Reform Commission – particularly its Bureau of Price Supervision and Anti-Monopoly -- opened a probe into the auto industry.

Jaguar Land Rover said in a statement that because of the importance of China, the carmaker immediately set up a process to review its pricing, deciding to voluntarily cut the price of the models. The company added that the move will boost its competitiveness and hike its market share in China.

The Chinese auto industry is the latest to be eyed by local antitrust regulators, who have already impose penalties on companies in other sectors like milk powder and eye glasses over pricing.

Local and foreign media recently reported that NDRC is investigating foreign carmakers like Mercedes-Benz for possibly over-charging customers in China.

Nicholas Speeks, head of China sales at Mercedes-Benz, however remarked that he does not know of any NDRC investigations, but quipped that the NDRC had expressed some concerns.

The NDRC had said that it was obtaining evidence of possible anti-competitive behavior in vehicle and auto parts market in the country.

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

Chevrolet Equinox is a mid-sized crossover SUV created by Chevrolet for General Motors. First introduced in 2004, this GM Theta unibody platform crossover SUV came into production the following year...
by - September 30, 2016
Mercedes-Benz Vans, one of the world’s top van makers, has just launched adVANce, which is their strategic transport industry initiative for the future. With this, the division analytically considers its...
by - September 29, 2016
In 2007, when Nissan first introduced the R35 Nissan GT-R at the 2007 Los Angeles Auto Show, the car carried with intense power and a price tag of $78,000. Up...
by - September 29, 2016
Bentley Motors has just released the specs of the new Bentayga Diesel. Obviously, we couldn’t wait to share it here since it’s the first ever diesel model to come out...
by - September 26, 2016
A big chunk of Volvo Cars’ legacy in developing the most durable and capable car is evident in its latest Cross Country collection. Suffice it to say, our planet has...
by - September 21, 2016