The Chinese government fined Lexus $ 12.5 millionDecember 29, 2019
Toyota automaker has been fined for Lexus pricing policy.
It became known that the Antimonopoly Bureau of the State Administration for Market Regulation of China fined a Chinese Lexus representative for a significant amount.
Toyota Corporation fined the Chinese market regulator 87.6 million yuan (approximately $ 12.5 million) for violating antitrust laws. During the study, Chinese market regulators were able to find out that brand dealers in the eastern province of Jiangsu set a minimum price level for used and new cars. Also noted was the fixation of the cost of original accessories. According to representatives of the antitrust bureau, these actions “tied” the hands of brand dealers and infringed on consumer rights.
According to Reuters, Toyota representatives agree with the government’s decision and will not oppose the punishment. It should be noted that auto sales in China have declined this year, but Lexus auto sales are increasing. As a result of 11 months of this year, 180,200 cars were sold in China. This figure is 21% more than for the same period in 2018.
In addition, it was recently noted that Lexus decided on the start date of sales of the premium Lexus LM minivan.
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