China fines Mercedes US$56.5m for price fixing

April 23, 2015 4:35 AM

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China fines Mercedes US$56.5m for price fixing

[SHANGHAI] A local pricing regulator in China said on Thursday it has fined Daimler AG's Mercedes-Benz 350 million yuan (US$56.49 million) for price fixing.

The regulator said the luxury German carmaker had"pressured" dealers to set minimum sales prices on some of its cars and spare parts, and given "warnings" to dealers who did not comply.

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