According to Reuters news on September 11, the Chinese anti-monopoly regulator announced a fine for FAW-Volkswagen and Fiat = Chrysler China sales department. This is the first time that Chinese anti-monopoly regulators have imposed penalties on foreign automakers. The fines totaled $46 million (about RMB 280 million). The regulator is also conducting anti-monopoly investigations on other overseas car companies, including Mercedes-Benz and Jaguar Land Rover. Household Electrical Appliances hisense , https://www.hisensegroups.com
The Hubei provincial price regulator said it would impose a fine of 249 million yuan on FAW-Volkswagen Automotive Co., Ltd. to correct unfair competition and rationally locate Audi prices.
The Shanghai Branch of the National Development and Reform Commission said that Chrysler China Sales Company will be fined 32 million yuan for its price monopoly. In addition, three Chrysler Shanghai dealers and eight Audi Hubei dealers will also be punished. The National Development and Reform Commission said earlier that the two automakers did violate the anti-monopoly law. Audi acknowledged that its sales department "partially" violated the Anti-Monopoly Law.
China promulgated the "Anti-Monopoly Law" in 2008, which has left many manufacturers nowhere to be seen. The automobile industry has also been subject to special review and supervision. In particular, global automakers have been exposed and accused by the official media for excessively high consumer charges.
It is reported that these companies violated the Anti-Monopoly Law in China and may face an annual income fine of up to 10%. According to an informed source, FAW-Volkswagen was fined, and the fine was only 6% of its turnover in Audi Hubei Province.
In August, 12 Japanese auto parts manufacturers were fined for operating prices in violation of regulations, and were fined 1.235 billion yuan in China.
Volkswagen said it will accept fines, Audi CEO Rup Stadler said, "I believe that we know China very well. In the next few years, we can do profitable business." In addition, Volkswagen said in a statement on the 11th. "Audi and FAW-Volkswagen value and will comply with all applicable anti-monopoly laws."
Chrysler's Chinese company did not comment on the matter.