Mercedes Benz fined with 350 mln yuan over price rigging

0 Comment(s)Print E-mail CRI, April 23, 2015
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A Mercedes Benz dealer shop in Nantong City, Jiangsu Province.. 

Provincial authorities in Jiangsu have slapped a 350-million yuan fine on Mercedes Benz for price manipulation.

The Jiangsu provincial price control bureau is also fining a number of Mercedes distributors 7.8 million yuan in total.

The penalties follow an investigation into accusations that Mercedes has been dictating a minimum selling price to many of its dealers in the province of Jiangsu.

The 350 million yuan fine accounts for 7 percent of Mercedes' total sales in Jiangsu last year.

China's anti-trust regulator has also hit Volkswagen and Chrysler with similar fines for price-fixing.

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