Toyota to Lower Prices on Lexus Parts in China

Toyota Motor Corp. says its Lexus luxury car unit will reduce prices on some 15,000 replacement parts by an average 26% beginning Sept. 1.

The adjustments echo similar price cuts by Audi, BMW, Jaguar Land Rover and Mercedes-Benz. The companies have taken the actions under pressure of a wide-ranging antitrust investigation by the country's National Development and Reform Commission.

Earlier this week NDRC fined a dozen Japanese auto parts suppliers a combined 1.5 billion yuan ($246 million) for colluding to fix prices on a variety of repair parts. The agency has said more fines are coming.