By Dow Jones Business News,
August 07, 2014, 11:15:00 PM EDT
SHANGHAI--BMW AG (BMW.XE) has announced price cuts on more than 2,000 spare parts, in response to a broader anti-trust
probe by China's top economic planning agency into the country's car industry.
The German luxury car maker said Friday in a statement that it would lower prices on spare parts including car bodies,
compressors, electric generators, storage batteries and brakes by 20% on average. The cuts will take effect on Monday,
"The pricing and antimonopoly division of the National Development and Reform Commission has paid close attention to
problems in China's auto industry and after-market service sector," said BMW, adding it slashed prices to respond to the
concerns from the NDRC.
BMW's moves come on the heels of other luxury car makers including Jaguar Land Rover, Audi AG, Chrysler and Daimler
AG'sMercedes Benz that have lowered prices on either car models or spare parts amid an antimonopoly investigation in
Foreign luxury-auto makers have been facing mounting pressure in what has been a lucrative market. China's state media
have accused them of earning exorbitant profits by dominating the market, overcharging consumers and controlling the
sale of auto parts.
Stepping up pressure on foreign luxury car makers, the NDRC, China's top pricing regulator, said on Wednesday that it
would punish Chrysler and Audi for monopolistic practices, a move that could attract a fine of up to 10% of their
domestic annual sales revenue.
Write to Rose Yu at email@example.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
Copyright (c) 2014 Dow Jones & Company, Inc.