Chinese BMW Dealers Fined for Monopoly

on August 14 2014 | in Daily Headlines | by | with No Comments

Provincial authorities in Hubei have handed down anti-trust fines worth 1.6 million yuan, or about 260-thousand U.S. dollars, to four BMW dealers.

The provincial price regulators have determined the four dealerships manipulated market prices by forming a price alliance.

The fine is the latest in a series of anti-monopoly investigations targeting foreign vehicle brands.

Many luxury car makers charge Chinese consumers much higher prices than they do in the United States or Europe — sometimes up to three times as much.

The anti-monopoly investigations have already forced several luxury car brands to slash their prices here in China.

At the same time, it’s reported Starbucks may be the next target of the current price-fixing investigations.

Read more at CRI English.

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