China fines Toyota $12.5 million over Lexus price fixingChristian 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.
Auto industry Toyota
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. ■