BMW to reduce prices amid antitrust probe
Bayerische Motoren Werke AG joined Daimler AG's Mercedes-Benz and Volkswagen AG's Audi in reducing prices of spare parts in China amid an antitrust investigation into the vehicle industry.
BMW will cut prices on more than 2,000 components by an average of 20 percent starting next Monday, the Germany-based automaker said in an e-mailed statement on Thursday. The company also said its authorized dealerships will set up more outlets in large cities including Beijing and Shanghai to sell original parts to independent workshops to help provide consumers more choice.
China, home to the world's largest vehicle market, is stepping up scrutiny over how much foreign automakers charge for vehicles and spare parts. The government began looking into possible antitrust violations in the industry at the end of 2011 after State media accused carmakers of inflating prices and overcharging consumers.
