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China: Volkswagen, Chrysler price-fixing fines could signal more to come

By  |  September 11, 2014

Several of the world’s largest car makers have been fined by Chinese authorities for price-fixing, according to reports.

Chinese units of Volkswagen and Fiat-owned Chrysler were fined a combined $46 million by the nation’s National Development and Reform Commission, the agency announced Thursday. Reports say the penalties could signal more fines to come against other car companies that are also being investigated by the NDRC, including Mercedes-Benz and Jaguar Land Rover.

So far, Volkswagen’s joint venture FAW-Volkswagen was fined $40.6 million for fixing the price of Audi cars, while Chrysler’s sales unit in the nation was fined about $6 million for operating a price monopoly, the watchdog said. Further, three Chrysler dealers and eight Audi dealers are also facing fines.

Full content: Reuters

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