Lexus violates antitrust law, fines ¥ 1.3 billion for Toyota China Corporation December 28, 4:17 in China
The government department in eastern China and Jiangsu province is antitrust that Toyota Motor's Chinese subsidiary has notified dealers to limit the amount of discount on sale of luxury car brand `` Lexus '' He fined over 1.3 billion yen in Japanese yen for violating the law.
China's Jiangsu Provincial Market Regulatory Authority has announced by Friday that Toyota's Chinese subsidiary has violated antitrust laws.
According to the announcement, from 2016 to last year, Toyota officials informed the dealers in Jiangsu Province about the sale of the luxury car brand “Lexus” through conferences in each district and SNS, etc. They had notified them to set a limit on their amount.
Authorities began investigating in December and found that these actions violated antitrust law as "relatively binding, limiting market competition and impairing consumer interests." A fine of RMB 87.61 million (approximately 1.37 billion yen) was imposed on the Toyota side.
Toyota China Corporation "Compliance with Laws and Prevention of Recurrence"
According to Toyota's Chinese subsidiary, "We have already corrected this matter, but we will work to ensure thorough legal compliance and prevent recurrence in the future."