Competition Commission of India imposes $13.6m fine on Hyundai MotorStaff Writer | June 15, 2017
India's antitrust watchdog on Wednesday imposed a fine of $13.6 million on Hyundai Motor's local unit, accusing the company of anti-competitive behaviour.
Auto industry Anti-competitive behaviour
The penalty has been levied at 0.3 percent of Hyundai Motor India's average relevant turnover of the preceding three years, the anti-competition watchdog said.
"For the purposes of determining the relevant turnover for the impugned infringement, revenue from sale of motor vehicles alone have been taken into account," the watchdog said, adding the final order was passed on the basis of information provided by the dealers. ■