Nissan to face fines for high spare parts prices, report says
China's antitrust authorities likely will soon disclose the fine for Nissan Motor Corp.'s joint venture with Dongfeng Motor Corp., according to Chinese media.
The anti-monopoly department of China's National Development and Reform Commission started investigating the joint venture for monopolistic pricing practices in September. Now the probe has entered the final stage, reported China Times, a Beijing-based daily newspaper.
The company has allegedly manipulated prices of spare parts for Nissan cars produced in China. The department will announced the punishment for the company in the near term, the newspaper reported, citing unnamed sources close to the situation.
Last year the government agency launched antitrust investigations into dozens of foreign companies, ranging from car manufacturers, food companies to technology companies.
To date, three global auto brands -- Audi, Chrysler and Mercedes-Benz -- have received hefty fines for antitrust violations. In addition, a dozen Japanese auto parts suppliers including heavyweights like Denso and Mitsubishi Electric were also fined for price fixing.
So far, the government has imposed fines on global car makers and suppliers totaling 1.7 billion yuan ($274 million), according to China Times.
The company has allegedly manipulated prices of spare parts for Nissan cars produced in China. The department will announced the punishment for the company in the near term, the newspaper reported, citing unnamed sources close to the situation.
Last year the government agency launched antitrust investigations into dozens of foreign companies, ranging from car manufacturers, food companies to technology companies.
To date, three global auto brands -- Audi, Chrysler and Mercedes-Benz -- have received hefty fines for antitrust violations. In addition, a dozen Japanese auto parts suppliers including heavyweights like Denso and Mitsubishi Electric were also fined for price fixing.
So far, the government has imposed fines on global car makers and suppliers totaling 1.7 billion yuan ($274 million), according to China Times.
