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Lexus to cut spare parts price by 26% amid antitrust probe
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LEXUS, the luxury brand of Toyota, said today that it will cut the prices of its spare parts by 26 percent on average starting from next month, in response to the industrywide antitrust investigation led by the National Development and Reform Commission.
Following this announcement, which came one day after the authority imposed a combined fine of 1.24 billion yuan (US$201.8 million) on Japanese cartels of auto parts and bearings, the top five luxury car brands in China have all made price cuts since the antitrust sweep was made public.
The other four companies are Audi, BMW, Mercedes-Benz and Jaguar Land Rover.
The price cuts by Lexus will affect about 15,000 spare parts, which include the radiator assembly, with its price down 35 percent, as well as the powertrain and transmission, whose prices are down 30 percent.
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