Report: China to Fine Audi €30 Million for Price Gouging

China's National Development and Reform Commission intends to fine Audi AG 250 million yuan (€30 million) for violating the country's anti-monopoly laws, according to the 21st Century Business Herald.

The Chinese newspaper cites an unnamed source who says the penalty is based on a percentage of Audi's 2013 sales in the province of Hubei. NDRC has authority to impose fines of 1%-10% of a company's previous-year revenue under the country's 6-year-old anti-monopoly law.

The commission has said it will fine Chrysler Group and several Japanese parts suppliers for inflating the price of vehicles and replacement parts in China. NDRC also has been investigating possible price gouging by BMW, General Motors, Jaguar Land Rover, Mercedes-Benz and Toyota.