China’s antitrust regulator said on Wednesday it would punish Audi and Chrysler for monopoly practices, potentially paving the way for the automakers to be fined up to 10 percent of their domestic annual sales revenue in the world’s biggest car market.
Chrysler is owned by Fiat SpA (FIA.MI) while Volkswagen (VOWG_p.DE) owns Audi, and both are premium brands in China. The regulator, the National Development and Reform Commission (NDRC), said an ongoing investigation into the two companies showed they had “conducted anti-competitive behaviors”.
“They will be punished accordingly in the near future,” NDRC spokesman Li Pumin told a press conference in Beijing.
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Reuters via CHINA US Focus http://ift.tt/V1E09a
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