China Fines Mercedes-Benz €52m after Anti-trust Probe
Chinese authorities fined Daimler’s Mercedes-Benz a total of 350m yuan (CNY) (US$56.5m/€52.0m) in the latest in a series of fines imposed on foreign carmakers following an anti-trust probe.
A pricing regulator in Jiangsu said the luxury German carmaker pressured local dealers into setting a minimum sales price on some of its car models.
A spokeperson for the company said that it “accepts the decision and takes its responsibilities under competition law very seriously.”
“We have taken all appropriate steps to ensure to fully comply with the law,” the representative told Reuters news agency.
A statement issued by the regulator read: “The investigation found Mercedes-Benz and its dealers in Jiangsu came to and carried out monopoly agreements to cap the lowest sales prices of E-Class, S-Class models and certain spare parts.”
Last year, Chinese regulators fined the local units of Volkswagen and Fiat Chrysler a combined US$46m for alleged price-fixing.