Report – China’s NDRC also reviewing Lexus for price fixing image

According to sources that have knowledge of the proceeds, the country’s price watchdog has called for meetings the executives from Toyota’s Lexus luxury division to address issues in regards to the automaker’s pricing and practices policies.

The National Development and Reform Commission (NDRC), China’s pricing regulator – now famous for the numerous investigations concerning monopoly accusations against foreign auto brands – has called for questioning Beijing-based executives at Lexus. The report comes from three China-based Toyota officials talking to Reuters under condition of anonymity.

NDRC’s officials were unavailable for comments on the rumored investigation and Takanori Yokoi, a Beijing-based Toyota spokesman, only said that the company would cooperate fully with the Chinese authorities if such a probe would be opened.

The probes into possible anti-competitive practices on the Chinese local market made the first two victims recently, with Hubei province’s price office announcing retaliatory measures against the sales division of Volkswagen’s joint venture FAW-Volkswagen Automobile. The unit was fined 249 million yuan ($40.6 million) for altering Audi’s prices. Also, NDRC’s Shanghai bureau said it would impose a 32 million yuan sanction against the China sales unit of Fiat’s Chrysler because of monopoly practices. Other carmakers – such as Daimler’s Mercedes-Benz or Tata’s Jaguar Land Rover are under investigation and could be fined.

Via Reuters