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GM fined $29 mln for monopolistic pricing


12-24-2016 00:25 BJT

China on Friday fined U.S. automaker General Motors' joint venture 29 million US dollars for monopolistic pricing.

The action ended speculation after an official forewarned of penalties against a U.S. automaker.

The penalty is the latest against foreign automakers after investigations began in 2011, with Audi, Mercedes-Benz, Toyota, and one of Nissan's joint ventures previously being investigated and fined.

GM said in an email that it will full support its China JV in the matter.

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