6 Antitrust

Chinese authorities fined global automakers and suppliers for violating antitrust laws after these companies imposed strict price restrictions on new car sales at authorized dealers.

Regulators levied a fine of about 350 million yuan ($54.8 million) on Daimler's Mercedes-Benz in April. In September, authorities fined FAWVolkswagen's luxury brand Audi almost 250 million yuan, Dongfeng Nissan nearly 123 million yuan and Chrysler almost 31.6 million yuan.

A number of authorized local dealers were also fined for the price-fixing violations.

The country is promoting legislation in the auto industry to better promote fair competition in the world's largest car market.

[Photo/China Daily]