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China Fines Chrysler, VW Group for Price Fixing
Chinese antitrust authorities have fined local affiliates of Chrysler Group and Volkswagen's Audi unit 32 million yuan ($5.2 million) and 249 million yuan ($40.8 million), respectively, for price manipulation.
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Chinese antitrust authorities have fined local affiliates of Chrysler Group and Volkswagen's Audi unit 32 million yuan ($5.2 million) and 249 million yuan ($40.8 million), respectively, for price manipulation.
The penalties were levied by the National Development and Reform Commission. NDRC said in August it would punish the two companies for violating Chinese anti-monopoly laws. Audi said at the time it would pay an undisclosed penalty for "partially" breaking the law.
The Audi and Chrysler fines are the first against carmakers. Last month the commission fined 12 Japanese suppliers a record 1.2 billion yuan ($201 million) for price fixing.
More than 100 European partsmakers have backed the NDRC investigations. They complain through the European Union Chamber of Commerce in China that carmakers have restricted their ability to sell repair parts directly in the aftermarket.
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