Mercedes-Benz Slapped with $56.5M Fine for Price-Fixing in China
Things are taking a tough turn for foreign automakers in China. Mercedes-Benz, in particular, was slapped with an expensive fine for being guilty of price-fixing in the country. According to a BBC report, Mercedes was penalized for a total of 350 million yuan or approximately $56.5 million for its misconduct in the Chinese market. Even local dealers selling the luxury vehicles offered by the brand were not spared as they were also required by a Jiangsu-based consumer watchdog to pay around 7.7 million yuan. The article claimed a pricing regulator in Jiangsu found out that Mercedes has been pressuring its local dealers into setting a minimum sales price on selected models… Continue Reading »