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

Article by Christian A., 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.

If you liked the article, share on:

Topics: china, vw, chrysler

Comments

Recommended

Porsche has been making a killing in terms of sales with its two luxury sports utility vehicles, the compact Macan and the midsize Cayenne. While Porsche is known for its...
by - December 13, 2017
Many automakers seem to always have the Nurburgring in the back of their heads when they build new cars. And a lot of them seem to be obsessed about making...
by - December 12, 2017
Niels van Roij Design has revealed a number of new renderings of the company’s upcoming shooting brake. Inspired by the Tesla Model S, this one-off model is scheduled to be...
by - December 12, 2017
Mercedes-Benz has officially released the pricing details of the new 2019 CLS. The base variant is the CLS 350d 4Matic that’s equipped with the inline-six rated engine and comes with...
by - December 12, 2017
In addition to revealing the first images, ARES Design also released new information on its upcoming supercar dubbed as “Project Panther.” The company is aiming for this new model to...
by - December 12, 2017
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