Shanghai GM latest automaker under China anti-trust probe

on August 13 2014 | in Daily Headlines | by | with No Comments

General Motors’ main China joint venture has joined automakers that say they have been contacted by Chinese anti-monopoly regulators as part of an investigation of the industry.

Shanghai GM’s announcement follows government announcements that Audi and Chrysler will face unspecified penalties for violating the country’s anti-monopoly law. Mercedes Benz, Toyota’s Lexus luxury brand and Japanese parts suppliers also are under scrutiny.

Regulators have launched a series of anti-monopoly probes of global automakers and technology suppliers, prompting suggestions Beijing is trying to force down prices.

Regulators have yet to disclose the basis of their investigation but industry analysts say they might be motivated by complaints about high prices for imported luxury vehicles and replacement parts.

“Since 2012, Shanghai GM has actively responded to and coordinated with the anti-monopoly bureau in its investigative and research work,” said a Shanghai GM statement.

It gave no indication whether the company is under investigation for possible violations.

Shanghai GM is a joint venture between GM and state-owned Shanghai Automotive Industries Corp. It sells under the Buick, Cadillac and Chevrolet brands.

Read more at the Detroit Free Press.

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