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Chrysler and Audi are investigated in China for monopoly

Kevin 2014-08-06 16:26:57
"Two separate anti-trust probes into Chrysler and Audi have found that the two multinational carmakers had been pursuing monopoly practices and they will receive punishment soon, an official with China's top economic planning agency said on Wednesday.

European luxury car brands plan to cut car and aftersales prices in China, in response to the government’s anti-monopoly probe.

The National Development and Reform Commission is investigating foreign carmakers for overcharging Chinese customers on products and spare parts. Jaguar Land Rover says that it will review its overall pricing policy, and cut 200,000 yuan on average for three models. Volkswagen’s Audi says that it will also cut its spare-part prices in China. These two pricing adjustments will take effect from Friday--August 1st.

Apart from Mercedes-Benz, Chinese authorities have also began investigating several other car brands.

So far, US car brand Chrysler and German auto company Volkswagen have both been confirmed to have engaged in monopolistic behaviours. Authorities say the two companies will face penalties in the near future.

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