Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Toyota Cuts Prices of Lexus Parts in China After Probe

Aug. 21 (Bloomberg) -- Toyota Motor Corp. said it will cut prices of spare parts in China for its Lexus vehicles next month after an antitrust probe into the auto industry.

Toyota will reduce prices of about 15,000 Lexus parts by an average of 26 percent from Sept. 1, the Toyota City, Japan-based company said in a statement posted on the Lexus China website yesterday. Prices of radiator parts will be cut by 35 percent, while engines and transmissions will be lowered by 30 percent.

Lexus joins BMW, Mercedes-Benz and Audi among foreign carmakers lowering prices in response to China’s antitrust probe into the auto industry. The announcement came on the same day the National and Development Reform Commission found 12 Japanese parts makers guilty of price-fixing and doled out total fines of 1.24 billion yuan ($200 million).

The cuts were made in response to the NDRC’s concerns over pricing practices in the industry, Toyota spokesman Naoki Sumino said.

To contact the reporter on this story: Ma Jie in Tokyo at jma124@bloomberg.net

To contact the editors responsible for this story: Young-Sam Cho at ycho2@bloomberg.net Chua Kong Ho

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.