皇冠体育app

12 Japanese suppliers fined a record $201 million for price manipulation

皇冠体育app is considering drafting new rules for the automotive industry on the basis of its Anti-Monopoly Law, according to an official at the nation's antitrust regulator.

He made the comment on Wednesday after 12 Japanese auto suppliers were fined a total of 1.24 billion yuan ($201 million) by the National Development and Reform Commission for manipulating prices.

12 Japanese auto firms face $200m fine

Ins and outs of Anti-monopoly drive

The fine is the largest handed out by the antitrust regulator.

Xu Xinyu, an official at the commission's Price Supervision and Anti-Monopoly Bureau, said restrictions from automakers related to replacement parts in 皇冠体育app had become extremely rigid and needed to be changed.

Xu said some car dealers had prevented auto parts from flowing freely, as in Europe or the United States, because automakers had set strict restrictions on prices, production quantities and the areas in which parts could be sold.

"We are not against franchise, but we are against abusing franchise," Xu said.

Vertical price-fixing－setting the lowest prices for items resold to third parties, also called resale price maintenance,－would be a major target for antitrust penalties, Xu added.

An official, who declined to be named, told 皇冠体育app Daily the antitrust regulator is also considering building a mechanism for the auto industry that would guarantee a level playing field.

Most major global automakers, including , , 's , 's -Benz, Tata Motors' , 's , Toyota and Honda, have been targeted in 皇冠体育app's antitrust probes. Most have announced price cuts for vehicles or spare parts in the past two months.

Fines for FAW-Volkswagen's Audi division have yet to be announced.

Shen Jianjun, secretary-general of the 皇冠体育app Automobile Dealers Association, said customers would benefit from the antitrust probes, which would inevitably bring more competition and lower prices.

Of the 12 Japanese companies involved, eight auto spare parts suppliers will be fined 831.96 million yuan, and four bearings suppliers will be fined 403.44 million yuan.

The commission said that from January 2000 to February 2010, the 12 Japanese firms, which included Hitachi and Denso, were found to have held bilateral and multilateral meetings to form horizontal-pricing aments, which refers to concerted actions and agreements between actual and potential competitors, the most serious type of monopoly conduct.

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