- CHINA’S market regulator on Friday has fined Japanese carmaker Toyota Motor 87.6 million yuan (S$16.9 million) for price-fixing on its premium Lexus cars in eastern Jiangsu province.
- Lexus also fixed sales strategies in the region over the period, including offering customers discounts while asking them to purchase accessories at fixed prices, a sales tactic usual among individual auto dealers in China but frowned upon for carmakers.
- China’s car sales are declining, but Lexus’ sales keep growing.