Yesterday, Toyota Motor Corp (TYO:7203) (NYSE:TM) announced that it would lower prices for its car parts for its Lexus models in China. This move is similar to that of its German competitors, who have cut their prices as well in response to the anti trust issues in the country.
According to a statement posted on the Lexus’s Chinese website, the luxury car company will cut an average of 26 percent from the price of roughly 15,000 parts next month. This drop in prices is due to the concerns raised by the National Development and Reform Commission in China regarding monopolistic practices in the auto industry. Thus Lexus stated that it will reduce the prices of its spare parts starting the 1st of September.
The statement also said that the company will ensure that it fully complies with the laws and regulations of the Chinese government, as well as improve its own management behavior, safeguard the rights and interests of its customers, and support the auto industry in China.
Other car makers, such as BMW (ETR:BMW), Volkswagen’s Audi (OTCMKTS:VLKAY) (ETR:VOW) and Mercedes-Benz, have announced already that they would cut prices on the spare parts of their car brands in China. This is in an effort to satisfy the criticisms from regulators who have accused some of these companies of anti competitive and monopolistic behavior.
China has cracked down on an array of industries, from milk powder manufacturers to electronic firms. These firms have come under intense scrutiny in the past few years as the government in China focuses its efforts to bring foreign companies up to speed with the country’s new 2008 anti monopoly laws.
However, legal experts say that the authorities in China seem to be coming down on more foreign multinational companies than domestic companies. Chinese regulators insist that the rules and laws apply to both foreign and domestic firms, and its fundamental goal is to protect consumers.
Xinhua News Agency, a local news agency, reported earlier this month that Mercedes-Benz was discovered to be guilty of fixing prices for after sales service. The National Development and Reform Commission in China also noted that it would penalize Fiat SpA (OTCMKTS:FIATY) and Audi for engaging in monopolistic practices.
Executive members at Toyota stated earlier this month that the authorities from the Chinese government is taking an initial examination into the Lexus brand’s policies regarding auto parts.
Yesterday’s announcement about the price cut follows close behind the event that the Chinese government penalized 12 Japanese manufacturer’s of auto parts a total of 1.2 billion yuan (USD$201 million). These 12 auto makers were found guilty of manipulating prices.
China’s auto industry is the worlds largest car sector and is also dominated by foreign brands. Recently, it has been brought under the spotlight due to claims by the state’s media that foreign car and parts manufacturers are cheating and overcharging customers.
Pingback: Best prices on viagra
Pingback: cialis otc
Pingback: how to get cialis
Pingback: How to get some viagra
Pingback: Get viagra fast
Pingback: cialis 20 mg price walmart
Pingback: buy cialis
Pingback: online pharmacy viagra
Pingback: best non prescription ed pills
Pingback: best ed pills
Pingback: top erection pills
Pingback: pharmacy online
Pingback: Real cialis online
Pingback: generic vardenafil online
Pingback: levitra vardenafil
Pingback: order levitra
Pingback: online casino usa
Pingback: best online casino real money
Pingback: sildenafil 20
Pingback: online casino real money usa
Pingback: best online casino for money
Pingback: cialis online reviews
Pingback: short term loans
Pingback: quick cash loans
Pingback: cash advance online
Pingback: viagra cost
Pingback: cialis 5 mg
Pingback: neteller gambling sites
Pingback: sugarhouse casino online
Pingback: real slot machine apps for ipad
Pingback: Best Online Casinos 2020
Pingback: new cialis
Pingback: new cialis
Pingback: new cialis
Pingback: cialis generic
Pingback: online casino usa real money
Pingback: casino online
Pingback: casinos
Pingback: free slots
Pingback: generic viagra canada
Pingback: viagra generic
Pingback: buy viagra online cheapest
Pingback: purchase viagra
Pingback: viagra samples
Pingback: viagra price
Pingback: buy viagra now
Pingback: buy cialis online overnight shipping
Pingback: cheapest generic viagra
Pingback: viagra cost
Pingback: tadalafil dosage
Pingback: generic viagra for sale
Pingback: casino real money
Pingback: online casino usa
Pingback: what else can you buy over the counter that is just as good as viagra
Pingback: where to buy viagra over the counter
Pingback: can i buy viagra online
Pingback: buy hydroxychloroquine
Pingback: mymvrc.org
Pingback: viagra generic
Pingback: viagra sale
Pingback: cialis 20 mg
Pingback: viagra cheap
Pingback: lm360.us
Pingback: tadalafil
Pingback: generic viagra
Pingback: cephalexin 500 mg capsule cost
Pingback: cialis without a doctor's prescription
Pingback: viagra
Pingback: viagra online pharmacy
Pingback: ceclor uk
Pingback: ceftin otc
Pingback: celebrex medication
Pingback: celexa 20 mg tablet
Pingback: cephalexin purchase
Pingback: cipro without prescription
Pingback: claritin without a prescription
Pingback: viagra without doctor prescription
Pingback: real casino online
Pingback: real casino
Pingback: real online casino
Pingback: online casino games
Pingback: chumba casino
Pingback: virgin casino online nj login
Pingback: online casino games real money
Pingback: casino online games
Pingback: online casino real money no deposit
Pingback: online gambling
Pingback: online car insurance quotes
Pingback: progressive auto ins
Pingback: good to go car insurance quotes
Pingback: autoowners insurance
Pingback: triple aaa insurance
Pingback: car insurance price
Pingback: best car insurance quotes comparison site
Pingback: power tablet for man
Pingback: met life auto and home
Pingback: gap insurance
Pingback: car insurance quotes companies in texas
Pingback: fast personal loan
Pingback: payday loans online no credit check
Pingback: best place to get installment loans
Pingback: quick quick loans
Pingback: bad credit loans ohio
Pingback: cheap payday loans
Pingback: personal loans online
Pingback: cbd hemp oil for sale amazon
Pingback: how much cbd oil for pain relief
Pingback: how much cbd oil for pain relief
Pingback: can cbd oil help with pain?
Pingback: cbd pills for sale
Pingback: cbd oil for sale in bulk
Pingback: Viagra overnight shipping
Pingback: cbd hemp oil for sale
Pingback: cbd oil for sale in bulk
Pingback: custom essay writing services
Pingback: write college essays
Pingback: buy essay paper
Pingback: essays writing
Pingback: essay writer review
Pingback: assignments help
Pingback: best essay writing service review
Pingback: australia essay writing service
Pingback: essay writing service australia
Pingback: cleocin 300mg pills
Pingback: Buy viagra on internet
Pingback: clonidine united kingdom
Pingback: clozaril 25 mg prices
Pingback: 50mg viagra
Pingback: how to buy symbicort inhaler 160/4,5mcg
Pingback: combivent for sale
Pingback: coreg 25 mg australia
Pingback: compazine pills
Pingback: cozaar price
Pingback: crestor coupon
Pingback: cymbalta medication
Pingback: dapsone 1000caps price
Pingback: Viagra 100 mg
Pingback: ddavp 10mcg no prescription
Pingback: depakote 500 mg otc
Pingback: where can i buy diamox
Pingback: differin over the counter
Pingback: diltiazem 90 mg australia
Pingback: doxycycline 100mg price
Pingback: dramamine 50 mg without prescription
Pingback: elavil cheap
Pingback: erythromycin 500mg tablets
Pingback: etodolac purchase
Pingback: flomax 0,4mg uk
Pingback: flonase nasal spray pharmacy
Pingback: garcinia cambogia 100caps australia
Pingback: geodon generic
Pingback: hyzaar 12,5mg coupon
Pingback: imitrex australia
Pingback: imodium medication
Pingback: visit the site
Pingback: imuran without a prescription
Pingback: cheap indocin
Pingback: lamisil purchase
Pingback: levaquin price
Pingback: lopid price
Pingback: lopressor 100 mg united states
Pingback: luvox united states
Pingback: buy macrobid 50 mg
Pingback: mestinon 60 mg nz
Pingback: micardis 80mg without prescription
Pingback: mobic united states
Pingback: motrin united kingdom
Pingback: nortriptyline price
Pingback: periactin 4mg without prescription
Pingback: phenergan tablets
Pingback: plaquenil cheap
Pingback: cheap prednisolone
Pingback: cheapest prevacid 30mg
Pingback: prilosec 10 mg without a doctor prescription
Pingback: proair inhaler generic
Pingback: procardia nz
Pingback: proscar otc
Pingback: protonix 40mg cost
Pingback: provigil medication
Pingback: where can i buy pulmicort
Pingback: where can i buy reglan
Pingback: remeron for sale
Pingback: retin-a cream 0.025% for sale
Pingback: revatio 20mg online pharmacy
Pingback: risperdal without prescription
Pingback: robaxin 500 mg generic
Pingback: rogaine without a prescription
Pingback: cost of seroquel 300mg
Pingback: singulair coupon
Pingback: skelaxin 400mg without a prescription
Pingback: spiriva 9mcg tablet
Pingback: tenormin pharmacy
Pingback: toprol 100 mg cost
Pingback: how to purchase tricor
Pingback: valtrex canada
Pingback: verapamil without prescription
Pingback: voltaren without a doctor prescription
Pingback: zanaflex coupon
Pingback: zithromax coupon
Pingback: basics
Pingback: where to buy zocor
Pingback: zovirax 400mg purchase
Pingback: zyprexa 5 mg united states
Pingback: zyvox 600mg price
Pingback: sildenafil without a prescription
Pingback: cheapest tadalafil
Pingback: furosemide 100mg without a doctor prescription
Pingback: escitalopram 5 mg over the counter
Pingback: aripiprazole 20 mg without a doctor prescription
Pingback: pioglitazone medication
Pingback: spironolactone 100 mg otc
Pingback: fexofenadine 180 mg online pharmacy
Pingback: glimepiride 4 mg generic
Pingback: meclizine for sale
Pingback: leflunomide 20mg uk
Pingback: atomoxetine purchase
Pingback: how to buy donepezil
Pingback: anastrozole otc
Pingback: irbesartan uk
Pingback: dutasteride 0,5mg for sale
Pingback: olmesartan 10 mg without a prescription
Pingback: buspirone 10mg nz
Pingback: clonidine 0.1 mg for sale
Pingback: cefuroxime 250 mg online pharmacy
Pingback: citalopram 20mg united states
Pingback: where to buy cephalexin
Pingback: cheap ciprofloxacin
Pingback: loratadine 10mg online pharmacy
Pingback: clindamycin 300 mg pills
Pingback: clozapine coupon
Pingback: prochlorperazine 5mg canada
Pingback: buy carvedilol 25mg
Pingback: warfarin online
Pingback: rosuvastatin pharmacy
Pingback: how to buy desmopressin mcg
Pingback: divalproex australia
Pingback: where to buy trazodone 25 mg
Pingback: tolterodine 1mg pharmacy
Pingback: acetazolamide 250 mg prices
Pingback: cheapest fluconazole
Pingback: phenytoin usa
Pingback: cost of oxybutynin 5mg
Pingback: doxycycline online pharmacy
Pingback: bisacodyl for sale
Pingback: venlafaxine coupon
Pingback: amitriptyline 25 mg online pharmacy
Pingback: permethrin medication
Pingback: wfdjeosp
Pingback: erythromycin for sale
Pingback: estradiol 1mg without prescription
Pingback: etodolac 300 mg usa
Pingback: buy tamsulosin
Pingback: where can i buy viagra in australia
Pingback: alendronate 35 mg australia
Pingback: wat kost sildenafil
Pingback: how soon can you take second dose ivermectin
Pingback: where can i buy glipizide 10mg
Pingback: hydrochlorothiazide without a prescription
Pingback: buy isosorbide 40mg
Pingback: sumatriptan pharmacy
Pingback: precio cialis 5 mg
Pingback: loperamide cost
Pingback: azathioprine without prescription
Pingback: indomethacin 25mg over the counter
Pingback: terbinafine 250 mg prices
Pingback: digoxinmg online pharmacy
Pingback: levothyroxine mcg coupon
Pingback: furosemide 80 tablet
Pingback: where can i buy zithromax over the counter
Pingback: ivermectin coronavirus
Pingback: albuterol ventolin
Pingback: how to buy gemfibrozil
Pingback: cialis 20mg tablets uk
Pingback: metoprolol 100 mg no prescription
Pingback: doxycycline bladder infection
Pingback: clomid and hcg
Pingback: priligy names
Pingback: synthroid coupon cvs
Pingback: metoclopramide united states
Pingback: generic propecia 1mg
Pingback: metformin coupons
Pingback: paxil positive reviews
Pingback: plaquenil eye symptoms
Pingback: best things to say on tinder
Pingback: free catholic dating sites for seniors
Pingback: completely free dating site no credit card
Pingback: free dating site for single women
Pingback: tadalafil online without prescription
Pingback: free dating free messaging
Pingback: free online dating sites in the usa
Pingback: all free dating sites
Pingback: 100 free dating in ireland
Pingback: free filipina dating
Pingback: free dating sites london
Pingback: free dating sites derbyshire
Pingback: free equestrian singles dating sites
Pingback: search dating sites by email address for free
Pingback: latino dating websites free
Pingback: keto karma
Pingback: keto milk
Pingback: are beans keto