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China: amid antitrust investigation, BMW also lowers prices

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China: amid antitrust investigation, BMW also lowers prices

The world’s largest premium automaker joined its German rivals Audi and Mercedes-Benz, as well as Jaguar Land Rover, cutting prices for the local market.

The move comes amid China’s government allegations that foreign brands engage in anti-competitive practices, overcharging Chinese buyers for vehicles and spare parts – launching industry wide investigations to enforce anti monopoly laws.

“Recently, NDRC’s Price Supervision and Anti-Monopoly Bureau expressed great concerns over problems in the auto industry and the after-sales market,” BMW said. “BMW has been paying close attention, and in response, is making the effort to bring down wholesale prices and promoting the flow of original parts.”

According to the company’s statement, the price reductions are just an “active response” to National Development and Reform Commission (NDRC)’s recent worries. BMW said it already moved to slash prices for 3,300 components in China by around 15% since the start of the year and will further cut them for over 2,000 spare parts by around 20% this month.

The Chinese price regulator this week announced it would impose fines for anti-competitive behaviour to Volkswagen AG’s Audi and Chrysler. The probes also go beyond the automotive industry, hitting foreign companies such as Mead Johnson Nutrition, Danone SA or Microsoft Corp.

Via Reuters

by Aurel Niculescu (my Google+) - Friday, August 8th, 2014 - filed under BMW, Industry, News. Image credit: .
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