#stayhome Maintain the distance, wash your hands, and follow instructions from the health authorities.
RSS   Newsletter   Contact   Advertise with us

China fines Toyota $12.5 million over Lexus price fixing

Share on Twitter Share on LinkedIn
Christian Fernsby ▼ | December 28, 2019
China’s market regulator has Toyota Motor 87.6 million yuan ($12.5 million) for price-fixing on Lexus cars in Jiangsu province.
Toyota do Brasil
Auto industry   Toyota
The decision comes as China steps up regulation over auto sales in the world’s biggest vehicle market, where more than 28 million cars were sold last year.

Topics: China fine Toyota

The anti-monopoly bureau of State Administration for Market Regulation said that between 2015 and 2018, the Japanese carmaker set a minimum sales and resale price for its cars in coastal Jiangsu province, which deprived dealers of pricing autonomy and harmed customers’ rights.

Lexus also fixed sales strategies in the region over the period, including offering customers discounts while asking them to purchase accessories at fixed prices, a sales tactic usual among individual auto dealers in China but frowned upon for carmakers.