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China price regulator fines Volkswagen and Chrysler for price monopoly

11
Sep
2014

SHANGHAI (Reuters) – China’s anti-monopoly regulator on Thursday announced its first-ever punishment of foreign carmakers for price-fixing, fining Volkswagen AG and Fiat’s Chrysler a combined $46 million. The penalty raised the possibility of similar fines being levied against other global players such Daimler’s Mercedes-Benz and Tata Motor Ltd’s Jaguar Land Rover, which are being probed for possible anti-competitive behaviour. The Shanghai branch of the National Development and Reform Commission (NDRC) said in a statement it would fine Chrysler’s China sales unit 32 million yuan ($5. …

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