Lexus was fined 12.5 million dollars

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Lexus was fined 12.5 million dollars

Antitrust Bureau State administration for regulation of market of China has fined the Chinese office Lexus.

The Chinese market regulator fined Japanese concern Toyota by 87.6 million RMB, or 12.5 million dollars, for violation of the antitrust laws. Officials from the State administration for regulation of the Chinese market in the result of the investigation revealed that Lexus set for official dealers of the brand in the Eastern province of Jiangsu minimum prices for new and used cars, as well as fixed prices for branded accessories. This decision of the Chinese leadership office, consider in Antimonopoly Bureau, not only tied the hands of dealers “Lexus”, but also seriously infringed the rights of consumers.

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A representative of Toyota told Reuters that the Japanese automaker respects the decision of the Chinese authorities and will not argue with the punishment. Car sales in China in 2019 fell, however, Lexus sales continue to grow: in the first 11 months of this year, China has sold 180 of 200 cars, which is 21% higher than a year earlier. The Chinese market remains the largest in the world in 2018, the country has sold more than 28 million cars.

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