The relevant Chinese departments conduct anti-monopoly investigations on the auto industry, and they are directed at luxury car manufacturers with high prices. In response, Mercedes-Benz and Audi cut maintenance prices and after-sales spare parts prices by two to three percent, while Jaguar Land Rover's models were significantly reduced.
Anti-monopoly wants to squeeze the price of luxury cars Since June this year, the Chinese Ministry of Commerce has announced that it will review potential monopolistic behaviors in various fields, including the automotive industry. Since 2011, the National Development and Reform Commission's Price Supervision and Inspection and Anti-Monopoly Bureau and the Anti-Monopoly Bureau of the Ministry of Commerce have conducted anti-monopoly investigations on the automotive industry. Foreign-funded car companies, especially luxury car manufacturers, have been accused of profiting from the Chinese market through vertical monopoly and spare parts monopoly of imported cars. There is also a monopoly of used cars and a monopoly of technology.
It is reported that luxury car manufacturers such as Mercedes-Benz are being interviewed by the National Development and Reform Commission and other departments in China because the certain behaviors of these car companies may cause them to form a monopoly in the Chinese market and impose high prices on consumers. Mercedes-Benz China CEO Nicholas Speeks admitted that he was talking to the NDRC but denied accepting the investigation. A BMW spokesperson also argued that it was not investigated for "violation of Chinese antitrust laws."
After China’s anti-monopoly voice has soared, many luxury car manufacturers have begun to adjust the price of cars or spare parts in China, and the range is considerable. Among them, Mercedes-Benz and Audi cut maintenance prices and after-sales spare parts prices, and Jaguar Land Rover cut the price for three models.
Generally speaking, the international automobile “zero ratio†is 300%, that is, the individual parts of the vehicle are separated and sold separately, which is equal to three times the price of the whole vehicle. However, among the 18 luxury and Volkswagen brands surveyed by the China Automobile Maintenance Association, The 10 zero ratios exceed 400%. The highest Beijing Mercedes-Benz C-class zero ratio factor is 1273%. Under the above background, Beijing Mercedes-Benz Sales & Service Co., Ltd. launched the Star Emblem Maintenance Menu on July 1 this year, and the overall price dropped by about 20%. According to different service types, it can be reduced by 30%-50%. Ni Kuang and the Mercedes-Benz Chinese spokesperson repeatedly mentioned the star emblem maintenance menu when facing the media.
On July 27th, FAW-Volkswagen Audi announced that it will reduce the price of tens of thousands of original spare parts for domestically produced models from August 1st, with an average reduction of 20%. Audi A6L TFSI Comfort 2.0-liter TFSI engine price reduction of 22%, Multitronic stepless / manual integrated gearbox price reduction of 38%, body assembly price reduction of 16%, ABS unit price reduction of 25%. This has led to a significant reduction in the zero-to-round ratio. For example, the Audi A6L has dropped from 411% to 291%, and the cost of the consumer's late use of the vehicle has been significantly reduced.
On July 26, Jaguar Land Rover China announced that it will cut prices for its Land Rover Range Rover Extended Edition 5.0V8, Land Rover Range Rover Sport 5.0V8 and Jaguar F-TYPE Convertible. From August 1 this year, these models will be guided by the manufacturers. The average reduction is 200,000 yuan. The largest range is the Range Rover Extended Edition 5.0V8SC peak version, from 3.598 million yuan to 3.298 million yuan, the reduction rate reached 300,000 yuan or 8.3%. In addition, Jaguar Land Rover is also developing a compensation policy for dealers and purchased car owners.
Some foreign media predict that as China's anti-monopoly investigations advance in the automotive industry, there may be more luxury cars in China in the future.
Price cuts may not hide anti-monopoly penalties Reuters pointed out that if Chinese institutions confirm that there are unfair monopolistic behaviors in the auto industry, it is impossible to determine whether foreign-funded auto companies will adopt price cuts to help avoid anti-monopoly penalties.
The price cut explained by Audi is that localization measures and economies of scale allow it to “adjust†the price of spare parts sold in China and provide consumers with “price convenienceâ€. However, there are still insiders who disclosed that many car companies have recently contacted relevant departments and expressed their hope to avoid anti-monopoly law enforcement punishment by actively lowering prices.
Analysts told foreign media that the current price cuts of luxury cars in the Chinese market are still not high, and they are still at the stage of palliative treatment. In the future, they need to pass through various channels such as legislation and supervision to truly "dehydrate" and protect the luxury cars. Consumer Rights.
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