SHANGHAI: Toyota Motor Corp said on Thursday it would cut prices of auto parts for its luxury Lexus models in China by an average 26 percent amid increasing scrutiny over anti-trust issues by the country's regulators.
The price cut will be effective from Sept. 1 this year, according to a statement posted on the Lexus website in China.
On Wednesday, China fined Japanese auto parts makers a record 1.2 billion yuan ($201 million) for manipulating prices as the government steps up its enforcement of an anti-trust law that has targeted major corporations and revived protectionism concerns.
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