EU fine for fixing prices of car parts
European Union regulators fined Japan’s Mitsubishi Electric and Hitachi Ltd 137.8 million euros (US$150 million) yesterday for fixing prices of car parts.
For the past six years, anti-trust regulators worldwide have cracked down on a long-time business model in which parts makers keep prices relatively high for new components they supply to carmakers and then charge even more for the same components supplied as replacements to dealers and repair shops.
The European Commission said the cartel for alternators and starters operated between September 2004 and February 2010, when Mitsubishi Electric, Hitachi and Denso coordinated responses to tenders issued by carmakers and also shared price details.
Mitsubishi Electric was fined 110.9 million euros while Hitachi’s sanction was 26.9 million euros. The firms admitted wrongdoing in return for a 10 percent cut in their fines.
- About Us
- |
- Terms of Use
- |
- RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证:沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证:31120180004
- |
- 网络视听许可证:0909346
- |
- 广播电视节目制作许可证:沪字第354号
- |
- 增值电信业务经营许可证:沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.