Japanese car makers cut parts prices in China after anti-monopoly probe
Monday, 11 August 2014
SHANGHAI, Aug 10 (Reuters): Japan's Toyota, Honda and Nissan became the latest foreign carmakers to respond to China's anti-monopoly investigation into the auto industry, as the probe's impact extends beyond foreign luxury auto brands.
GAC Toyota Motor Co, Toyota's joint venture with China's GAC Group, and Guangqi Honda Automobile Co, Honda's venture with GAC, both said late on Friday they would cut spare part prices due to the investigation.
Nissan's joint venture with China's Dongfeng Motor Group Co said it paid close attention to the regulator's suggestions and was actively studying improvements.
The moves came on the heels of price cuts by foreign luxury brands including BMW, Mercedes-Benz, Audi, Chrysler and Jaguar Land Rover over the past month, as China's price regulator, the National Development and Reform Commission (NDRC), steps up scrutiny of the industry.