Mercedes-Benz found guilty of price fixing by Chinese regulator
Mercedes-Benz has taken a hit to its activities in China after anti-monopoly authorities in the country judged the luxury car maker to be guilty of overcharging Chinese consumers for spare parts.
The Jiangsu province price bureau found evidence of anti-competitive practices after raiding Mercedes-Benz dealerships in the eastern coastal province and an office in neighbouring Shanghai, news agency Xinhua said.
The report said the cost of replacing all the spare parts in a Mercedes-Benz C-Class could be 12 times more than buying a new vehicle.
Mercedes-Benz owner Daimler confirmed it was assisting authorities in China with their investigation, but did not comment further yesterday owing to the ongoing nature of the matter.
A string of companies operating in China have recently been investigated by regulators, including Audi and BMW. And the auto sector is not alone in being probed as companies, including Microsoft and Qualcomm, have also caught the eye of regulators.