/ Industry, News / India follows China and slaps 14 carmakers with fines after antitrust probe

India follows China and slaps 14 carmakers with fines after antitrust probe

Linked In Share
India follows China and slaps 14 carmakers with fines after antitrust probe

The country’s anti-monopoly enforcer has announced that 14 automakers will be fined a combined 25.4 billion rupees ($420 million) for breaching antitrust laws in the spare parts market.

India’s auto industry is now faced with the same type of investigation that made the headlines in China these past few months. A Competition Commission of India order, signed August 25, stipulates that the culprits must cede now an equivalent of 2% of their three-year average revenue in India.

“The car companies charged arbitrary and high prices for their spare parts,” said the statement of the commission. Car companies also “distorted fair competition.”

“Regulators are getting more aggressive in emerging markets, which is logically the right thing to do as the markets reach a certain threshold,” said Deepesh Rathore, director at Emerging Markets Automotive Advisors in Delhi.

Tata Motors was the worst hit by the penalty, the fine totaling 13.5 billion rupees, while Japan’s Honda Motor, which was fined 784 million rupees, was the first among foreign brands. According to the regulator, the automakers imposed their high prices by only providing spare parts to authorized repair shops. The price increases ranged from 19.9% to as much as 4.817 percent, as the commission found it was the case with Italy’s Fiat SpA.

Via Bloomberg

by Aurel Niculescu (my Google+) - Tuesday, August 26th, 2014 - filed under Industry, News. Image credit: .
Linked In Share
Related Articles
anti antitrust china fine 14 carmakers india monopoly probe


Discuss: India follows China and slaps 14 carmakers with fines after antitrust probe

Leave a Reply















Inautonews Facebook PageInautonews RSS FeedInautonews TwitterInautonews Youtube Channel

Sign up to receive our email newsletter on your email. It's safe. No spam!

Peugeot 308 GT gets launched in Australia
Peugeot 308 GT gets launched in AustraliaThe Peugeot 308 GT has arrived in Australia recently where the model in question will become available to its future customers ...
Honda CEO Ito surprisingly resigns, to be replaced by engineer
Honda CEO Ito surprisingly resigns, to be replaced by engineerThe third largest Japanese automaker, Honda Motor, surprisingly announced that its current chief executive officer - Takanobu Ito ...
Toyota Auris facelift introduced
Toyota Auris facelift introducedToyota has operated a minor facelift for its compact model, the Auris, as the public debut of the car will be made at the 2015 ...
US: upcoming Chrysler minivan to feature several design changes
US: upcoming Chrysler minivan to feature several design changesThe all-new generation of Chrysler’s Chrysler Town & Country minivan sees new details revealed, thanks to new documents ...
Meet the facelifted Range Rover Evoque
Meet the facelifted Range Rover EvoqueLand Rover has officially pulled the wraps off the facelifted version of the Range Rover Evoque, which will be making its public ...
Hyundai i20 Coupe gets priced in the UK
Hyundai i20 Coupe gets priced in the UKHyundai has officially announced the official price list for the new i20 Coupe in the United Kingdom as the model in question ...
Report – China’s Wanxiang could morph Fisker into Elux
Report – China’s Wanxiang could morph Fisker into EluxChinese auto parts maker Wanxiang Group became famous recently for acquiring the bankrupt assets of electric car startup Fisker ...
Mercedes-AMG GT3 looks good in new rendering
Mercedes-AMG GT3 looks good in new renderingThe upcoming Mercedes-AMG GT3 has been rendered once more and we have to admit that this is one impressive looking racer. The ...
Apple could revolutionize auto industry without actually making a car
Apple could revolutionize auto industry without actually making a carFive years ago, when Google said it was ready to develop and produce autonomous cars, the auto industry was left in confusion and ...
[VIDEO] Aston Martin Vulcan – new teaser released
[VIDEO] Aston Martin Vulcan – new teaser releasedThe British based automaker Aston Martin has released a new teaser video with the upcoming Vulcan, which will be officially ...
BMW X5 M and X6 M announced for Australia
BMW X5 M and X6 M announced for AustraliaThe new generations of the BMW X5 M and X6 M will be officially introduced in Australia soon as the two range topping versions ...
US: Honda happy with west coast labor dispute end
US: Honda happy with west coast labor dispute endThe third largest Japanese automaker welcomed the recent agreement between the dockworkers and shippers that would see the end of ...
Skoda Fabia Monte Carlo going to Geneva
Skoda Fabia Monte Carlo going to GenevaSkoda has officially announced its plans of introducing a Monte Carlo edition of the Fabia and Fabia Combi at this year’s ...
Geneva Motor Show sees eclectic string of debuts
Geneva Motor Show sees eclectic string of debutsThe 2015 edition of the Geneva auto show is gearing up for a string of key debuts from global automakers spanning across the ...
Spotted – Porsche Cayman GT4 in the real world
Spotted – Porsche Cayman GT4 in the real worldThe brand new Porsche Cayman GT4 has been recently spotted out in a parking lot in Germany and these are the first images showing ...
Read more automotive news


2015 Geneva Motor Show Coverage

2016 toyota auris 1
2016 range rover evoque facelift 1
2016 skoda fabia monte carlo 1
Holden Captiva Active Special Edition 1
Mercedes-Benz G500 4x4 Concept 1
porsche 911 gt3 rs 1
2015 Mercedes-Benz B-Class Review - Interior 10
kia cee'd gt line 1
2016 skoda octavia rs 230 special edition 1
2015 Smart Fortwo Review - Exterior 08
white porsche 918 spyder for sale 1
nissan gt-r crash puerto rico 1

More automotive from inautonews
The Peugeot 308 GT has arrived in Australia recently where the model in question will become available to its future customers from 41,990 AUD, plus on-road costs. Peugeot says that the cheapest version of the 308 is the Access 96 kW e-THP manual, which can be yours from 21,990 AUD, while the ...
read more
Inautonews Editors Section
Geneva Motor Show sees eclectic string of debuts
Geneva Motor Show sees eclectic string of debutsThe 2015 edition of the Geneva auto show is gearing up for a string of key debuts from global automakers spanning across the model lines – from the ...
Test Drive: Mercedes-Benz B180 CDI
Test Drive: Mercedes-Benz B180 CDI The Mercedes-Benz answer to models like the BMW 2-Series Active Tourer is called the B-Class. It’s a premium MPV with an appealing design, a ...
Test Drive: 2015 Smart ForTwo
Test Drive: 2015 Smart ForTwo The new generation of the Smart ForTwo is a truly evolutionary city car which has become way better than its predecessor. After being in production ...

Editors Section
Inautonews Editors Section
2012 Safest Cars list 2011 Safest Cars [Video] 2011 IIHS Safest Cars [Video] 2011 EuroNCAP Safest Cars 2010 Safest Cars [Video]

Latest in Safety US: Daicel to push forward planned airbag inflator factoryJapan’s Daicel Corp announced recently it would move to construct its second US plant to produce ... Recall roundup: Toyota vehicles in two separate campaignsToyota has issued two separate recalls for several of its models because of a potential wheel ...
Safety Section