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China province fines Mercedes Benz $56 mn for price fixing | Yahoo7

Beijing (AFP) – Chinese authorities fined Mercedes-Benz 350 million yuan ($56 million) on Thursday for violating anti-monopoly laws and price fixing, investigators said.”

After an investigation, Mercedes-Benz dealers in Jiangsu province were found to have implemented a fixed minimum price for E- and S-class vehicle parts in violation of the anti-monopoly law,” said a statement from the Jiangsu province pricing bureau.

Minimum prices were also set for entire E- and S-class cars between January 2013 and July 2014, the statement said.Three dealerships, in the cities of Nanjing, Wuxi and Suzhou, were separately fined a total of 7.9 million yuan.

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Investigators said price-fixing meetings were organised at some Mercedes dealerships in the eastern province as far back as November 2010.

State media last year said pricing authorities had evidence that Mercedes-Benz controlled prices of its spare parts and maintenance services.

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China province fines Mercedes Benz $56 mn for price fixing.

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