Date
22 November 2017
Audi is facing a potentially hefty antitrust fine for alleged price-fixing in its Hubei operations. Photo: Bloomberg
Audi is facing a potentially hefty antitrust fine for alleged price-fixing in its Hubei operations. Photo: Bloomberg

Audi, agents face hefty China antitrust fine

Audi A.G., a unit of German auto giant Volkswagen A.G., may be fined hundreds of millions of yuan for breach of China’s anti-monopoly law, 21st Century Business Herald reported Friday, citing unnamed sources.

Audi executives and agents held talks with officials from the National Development and Reform Commission Thursday at the end of an antitrust investigation into the carmaker.

Any penalties will be announced within 12 days of the meeting, the report said.

These will be equivalent to 1-6 percent of Audi’s turnover in 2013. Eleven Audi agents in Hubei also face penalties expected to run into tens of millions.

The investigation related to alleged price-fixing by Audi in Hubei. The 11 sales agents had formed a cartel on car parts, after-sales services and insurance compensation, the report said.

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