Audi to Pay Anti-Monopoly Penalty in China

Audi AG says it has agreed to pay an unspecified penalty for violating Chinese anti-monopoly laws.

The levy is the first of many expected from the country's National Development and Reform Commission, which has been investigating the auto industry and others for price gouging.

NDRC said last week it was preparing to "punish" Audi, Chrysler and 20 Japanese replacement parts suppliers for monopolistic behavior.

In the past six weeks Audi, BMW, Chrysler, Honda, Jaguar Land Rover and Toyota all have announced voluntary price cuts on repair parts and selected models in an effort to deflect penalties.