Honda, Toyota Cut Prices as China Antitrust Probe Tightens

Honda Motor Co. and Toyota Motor Corp. have joined several foreign carmakers in announcing price cuts on repair parts sold in China.

The reductions come as China's National Development and Reform Commission prepares to announce fines against multiple carmakers and suppliers to punish them for antitrust behavior.

Toyota and Honda say they will lower prices on Aug. 18 and Sept. 1, respectively, by an unspecified amount on unspecified components.

The two companies join Audi, BMW, Chrysler, Jaguar Land Rover and Mercedes-Benz in selectively reducing prices on parts and/or vehicles. Last week the NDRC said it will impose punishment on Audi, Chrysler and 10 Japanese replacement parts suppliers for price gouging.