The Antimonopoly Bureau of the State Administration for Market Regulation of the Peoples Republic of China issued a fine to the Lexus Chinese office.
The Chinese market regulator fined Japanese concern Toyota at 87.6 million yuan, or $ 12.5 million at the current rate, for violating antitrust laws. As a result of the investigation, officials from the State Administration for Market Regulation of the PRC revealed that Lexus set the minimum price level for new and used cars for official brand dealers in the eastern province of Jiangsu, as well as fixed prices for branded accessories. Such a decision by the leadership of the Chinese office, according to the antitrust bureau, not only tied the hands of Lexus dealers, but also seriously impaired the rights of consumers.
A Toyota spokesman told Reuters that the Japanese automaker respects the decision of the Chinese authorities and will not mind punishing it. Car sales in China in 2019 decreased, but Lexus sales continued to grow: in the first 11 months of this year, 180,200 cars were sold in China, which is 21% more than a year earlier. The Chinese market remains the largest in the world – in 2018, more than 28 million cars were sold in the country.