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FAW-Volkswagen fined 249 million yuan for price monopoly, Xinhua reports

( September 11, 2014, 08:25 GMT | Insight) -- The Hubei Price Bureau of China’s National Development and Reform Commission has imposed penalties of 249 million yuan ($41 million) on FAW-Volkswagen and 30 million yuan ($4.9 million) on eight Audi dealers in Hubei Province for price monopoly condu...The Hubei Price Bureau of China’s National Development and Reform Commission has imposed penalties of 249 million yuan ($41 million) on FAW-Volkswagen and 30 million yuan ($4.9 million) on eight Audi dealers in Hubei Province for price monopoly conduct, NDRC announced through Xinhua news agency. FAW-Volkswagen entered into monopolistic agreements with Audi dealers in Hubei for resale price maintenance (RPM) of auto sales and maintenance services since 2012, the report said. Meanwhile, the ten Audi dealers entered into auto sale monopoly agreements among themselves since 2013....

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