GERMAN luxury car brand Audi will accept punishment from Chinese authorities for breaching anti-monopoly laws in the world’s largest auto market, it said yesterday. An investigation by Chinese authorities found that an Audi dealer network had “violated national anti-monopoly laws,” the brand’s China arm said in a statement, adding that […]
Mercedes guilty in anti-trust probe
MERCEDES-BENZ has been found guilty of manipulating the price of after-sales services by the Jiangsu Province Price Bureau amid China’s sweeping anti-trust campaign. The bureau, which launched its investigation late last month, found evidence of anti-competitive practices after raiding Mercedes-Benz dealerships in Suzhou, Wuxi, Yangzhou, Huai’an and Danyang, all in […]
Japan auto firms fined for monopolistic acts
NSK and NTN, two bearing manufacturers from Japan, became the first Japanese auto part firms to be fined for their monopolistic practices in China. Tokyo-based NSK has been fined 174.92 million yuan (US$28.5 million) for violating the Anti-Monopoly Law of China by the National Development and Reform Commission, the country’s […]
12 Japanese auto parts suppliers fined 1.24bln yuan over price monopoly
A total of 12 Japanese auto parts suppliers have been fined 1.24 billion yuan (US$201 million) due to a price monopoly, China’s top price regulator confirmed today. The Japanese auto parts suppliers punished include Hitachi, Denso, Aisan, Mitsubishi Electric, Mitsuba, Yazaki, Furukawa, Sumitomo and bearing makers Nachi, NSK, JTEKT and […]
Volvo lifts sales view as profit returns
CHINESE-OWNED Volvo Car Group yesterday raised its outlook for 2014 sales after returning to profit in the first half as strong growth in China and a moderate upturn in Europe more than offset lingering weakness in the United States. Gothenburg-based Volvo, one of Sweden’s top exporters and employers though a […]
Japanese cartels get US$200m fine
A GROUP of 12 Japanese manufacturers of auto parts and bearings have been found guilty of violating China’s Anti-Monopoly Law, with 10 of them fined a combined 1.24 billion yuan (US$201.8 million). The penalty is the largest ever issued by the National Development and Reform Commission in the six-year history […]
First Look: Lincoln C Concept
Forget the Continentals of your past, or the big, long rear-drive concepts of the early ’00s. While BMW has proven that rear-wheel-drive c-segment size luxury works, with its 1 Series, Lincoln is turning next to the 2011 Ford Focus’ platform for post-global warming luxury. To prepare us for a CAFE-friendly world, Lincoln rolled out the […]