GM’s Chinese Joint Venture Fined $29 Million For Price Fixing

Confirming last week’s report, GM’s Chinese joint venture has been fined 201 million yuan ($29 million) by local authorities for monopolistic pricing.

Shanghai Daily reports that, after General Motors joined forces with SAIC Motor Corp, the company set minimum prices in 2014 on an array of models including the Buick Excelle GT, Chevrolet Trax and Cadillac SRX.

In an investigation conducted by Shanghai’s pricing regulator, it was discovered that SAIC-GM practiced online surveillance in order to ensure dealerships were charging the minimum amounts for its models. If they weren’t, they could be hit with penalties or a deduction in returned profits.

In a statement, General Motors said: “GM fully respects local laws and regulations wherever we operate. We will provide full support to our joint venture in China to ensure that all responsive and appropriate actions are taken with respect to this matter.”

The Shanghai regulator had been conducting similar investigations in 2011 and has previously targeted Mercedes-Benz, Toyota and Audi.

PHOTO GALLERY

46,000 GM Employees Strike After Failed Trade Union Negotiations

GM says it offered the UAW more than $7 billion in investment and pay increases.

Bugatti Is Seeking “Sexy Funding” For Its Upcoming Four-Seater

After breaking the 300 mph barrier, Bugatti is turning its focus on the development of its new model that, as everything points out, could be an SUV.

Mercedes-AMG Has No Plans On Racing The One Hypercar At Le Mans

The Mercedes-AMG One will use an F1-sourced powertrain, but the German brand has decided against competing in WEC with it.

Ferrari Admits Developing Its First-Ever SUV Is Quite A Challenge

The Purosangue SUV will be based on Ferrari’s scalable front-mid-engined architecture that can accommodate V6, V8 and V12s as well as rear- and all-wheel drive.

Frankfurt Motor Show Could Be Restructured In Order To Remain Sustainable

A lot of automakers, including Toyota, FCA, and Ferrari, were absent from this year’s event, and those present reduced their investments.

Aston Martin Unveils Vantage Cup For One-Make Racing Series

The Cup is based on the street-legal Vantage V8, with the championship set to start in Europe next year and expand to Asia in 2021.

The Mercedes-AMG One Sounds Just Like An Actual F1 Racer!

The Mercedes-AMG One’s powertrain consists of a 1.6-liter turbo V6 coupled to no less than four (!) electric motors.

Someone Created A Tesla Model 3 Low-Rider Because Why Not?

A low-rider electric sedan ain’t something you see on a daily basis, but with the proliferation of EVs, maybe we should get start getting used to it.

Ford Is Reportedly Developing A Focus-Based Ute In Australia

Code-named the P758, it is expected to target the South American market, though it could be sold elsewhere as well.

Hyundai’s Pickup Could Get A Ranger Raptor-Rivaling Variant

A Hyundai pickup with the i30 N’s 2.0-liter turbo four-cylinder and close to 300 HP could be very fun indeed.