Toyota Joins Honda in Cutting Prices Amid China Antitrust Probe
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Toyota Motor Corp. and Honda Motor Co.’s Chinese ventures joined Daimler AG’s Mercedes-Benz and Volkswagen AG’s Audi in reducing prices of spare parts amid an antitrust investigation into the auto industry.
GAC Toyota Motor Co., the Japanese maker’s venture with China’s GAC Group, will cut prices on some components from Aug. 18, according to statement yesterday on its website. Guangqi Honda Automobile Co., Honda’s venture with GAC, will lower some parts prices from Sept. 1, according to a separate statement.