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China: Audi agrees to penalty amid antitrust investigation

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China: Audi agrees to penalty amid antitrust investigation

Volkswagen’s premium unit Audi has moved to ‘accept penalty’ in China’s ongoing probe of the automotive industry, which centeres on prices of spare parts.

China’s National Development and Reform Commission (NDRC) started the investigation after numerous media reports stated that buyers in the country were charged more than customers in other regions of the world. The industry wide probe has so far triggered price cuts of services, vehicles or spare parts at seven global automakers, including Audi. More so, the investigation also found that Audi’s dealer unit, called FAW-Volkswagen Sales Co., also breached national anti-monopoly laws.

“Management processes in the sales and dealership structure are getting improved to prevent similar incidents in the future,” says Audi in a statement. “Audi and FAW-Volkswagen attach great importance that all applicable antitrust and competition laws are adhered to.”

Audi, BMW, Mercedes-Benz, Jaguar Land Rover, Chrysler, Toyota and Honda have all reduced prices since the investigation took flight in July, although it initially started in 2011-2012. The NDRC is China’s national economic planner, oversees pricing and is among the three governmental units tasked to uphold the country’s antitrust legislation.

Via Automotive News Europe

by Aurel Niculescu (my Google+) - Wednesday, August 13th, 2014 - filed under Audi, Industry, News. Image credit: .
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