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General Motors fined in China for pricing

General Motors

The automobile sector is so large that often becomes complicated and according to which cases so difficult to understand. Large car manufacturers are present in the most important markets of the world and the struggle that pound for being the best selling is very strong. Reach the top of the rankings of sales is very complicated and carelessness that may become more expensive than originally planned are committed to not fail many times.

General Motors is one of the manufacturers of cars largest in the world and is in markets as important as China. Precisely this country is one of that older vehicles consume of them several brands that sells the conglomerate American. However, General Motors together with its local partner SAIC seems they have done one than another maneuver to negotiate the prices of its cars.

General Motors

As we all know the pricing it is engaging in unfair competition and therefore the joint venture created by both firms to operate in the country will be fined. The amount you will have to satisfy by having engaged in this conduct has been established in 201 million Yuan, or what is the same about 29 million dollars at the Exchange.

According to the agency that regulates them prices in Shanghai both General Motors as SAIC agreed to establish prices minimum for them models of Cadillac, Buick and some of the brand Chevrolet. This situation, the competitive position of both companies was altered in the market doing that consumers were forced to pay a higher price which would have corresponded them have not changed prices.

With all, both General Motors as SAIC have informed that respect deeply the laws and regulations of the country and that will collaborate to clarify this situation.

Source – Automotive News

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