A PYMNTS Company

China: Mercedes-Benz fined for price-fixing

 |  April 23, 2015

A local pricing regulator in China said on Thursday it has fined Daimler AG’s Mercedes-Benz 350 million yuan for price fixing.

The regulator said the luxury German carmaker had pressured dealers to set minimum sales prices on some of its cars and spare parts, and given warnings to dealers who did not comply.

China has been clamping down on the auto sector, punishing foreign carmakers for price fixing for the first time last year when it fined the Chinese venture of Volkswagen AG and a sales unit of Fiat Chrysler Automobiles NV a combined $46 million.

“The investigation found Mercedes-Benz and its dealers in Jiangsu came to and carried out monopoly agreements to cap the lowest sales prices of E-Class, S-Class models and certain spare parts,” the Jiangsu pricing regulator said in a statement.


Full Content: Deutsche Welle


Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.