BMW cuts auto parts prices in China
BMW announced it has joined its German competitors Audi and Mercedes-Benz in cutting prices of auto spare parts in China, where the government has complained about overcharging and launched probes to expose what it describes as anti-competitive behaviour, Gulf Times reported. BMW, which has already cut prices for 3,300 spare parts in China by an average of 15% this year, will further reduce prices for over 2,000 components by 20% starting on August 11, the company said in an e-mailed statement. The price cut is in “active response” to concerns expressed by the National Development and Reform Commission (NDRC), China’s price regulator, BMW said. China is ramping up efforts to bring companies in line with its anti-monopoly law. In recent years, it has slapped foreign companies including Mead Johnson Nutrition Co and Danone SA with hefty fines. It is currently probing Microsoft Corp and carmakers including Mercedes-Benz.