China: amid monopoly probe, Jaguar also lowers prices image

Just as the government watchdog is in a full investigation amid monopoly concerns over foreign automakers, the British automaker Jaguar Land Rover has announced it’s going to reduce prices on three models.

The National Development and Reform Commission (NDRC), China’s state planner, started a few months back a review of the overall auto industry – including its spare parts business and lately expressed concerns about the involvement of certain foreign brands into the anti-monopoly probe.

Jaguar Land Rover will reduce prices of three models starting Aug.1 by around 200,000 yuan (19,029 pounds), in a move officially tied to the NDRC investigation. The affected cars are the Ranger Rover 5.0 V8, Ranger Rover Sport 5.0 V8 and Jaguar F-Type Cabriolet.

“Due to the importance of the Chinese market, Jaguar Land Rover China immediately set up a process to review our pricing and decided to voluntarily reduce the price of three models,” the carmaker said.

Last week, after media reports suggested that Daimler’s Mercedes-Benz was also part of the NDRC investigations, executives of the company immediately downplayed concerns and also cut prices of service related charges and spare parts. The move by Mercedes and Jaguar was mirrored by Audi, which also reduced prices of products and spare parts.

Via Reuters