Changan Ford fined US$23.6m
Print Edition
China’s State Administration for Market Regulation announced yesterday that it has imposed a fine of 162.8 million yuan (US$23.6 million) on automaker Changan Ford for implementing vertical monopoly agreements.
Since 2013, Changan Ford Automobile Co has restricted the minimum vehicle resale prices for downstream dealers in southwest city of Chongqing, violating China’s anti-monopoly law, the administration said in a statement on its website.
The company’s practices deprived the downstream dealers of pricing autonomy, excluded and restricted the competition within the brand and in effect weakened the competition among brands, the statement said.
Thus, the administration imposed the fine that equals to 4 percent of the firm’s 2018 sales in Chongqing in accordance with the anti-monopoly law.
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