Audi faces penalty in China
Volkswagen (VOWG_p.DE)’s premium auto unit Audi on Wednesday said it would accept a penalty and change management processes at one of its China units after a regional authority said it had discovered violations of anti-monopoly laws.
“According to investigations of the Hubei Provincial Price Bureau, partial practices in the dealership network of the FAW-Volkswagen Sales Co., Audi Sales Division in Hubei province have violated national Anti-Monopoly laws,” Audi said in a statement.
In China, Audi operates under a venture with state-owned automotive enterprise FAW Group Corp 000800.SZ.
As a result of the Hubei probe, FAW-Volkswagen will accept a penalty, Audi further said in a written statement on Wednesday.
Audi said it was cooperating with authorities and said it could not comment further until the relevant government authorities had concluded their investigation.
Source: Reuters
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