Jaguar is lowering its prices in China following anti-trust probe
Jaguar Land Rover, the British luxury car maker, has announced that it will be cutting prices on three of its models by an average of 200,000 yuan ($32,300) starting in August. The announcement comes shortly after the National Development and Reform Commission (NDRC), China’s state planner, launched an anti-monopoly probe into the auto industry.
“Due to the importance of the Chinese market, Jaguar Land Rover China immediately set up a process to review our pricing and decided to voluntarily reduce the price of three models,” the carmaker said.
Jaguar claims that the price adjustment will strengthen competitiveness and increase market share in China. The Chinese automotive sector, which is currently dominated by foreign giants such as Volkswagen and Toyota, is just the latest in a string of industries that are being targeted by anti-trust regulators.
Read more about the story at The Wall Street Journal.
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