(MENAFN) Chrysler Automobile Sales Co. Ltd. China has been fined a total of USD5.15 million by the Shanghai pricing bureau on antitrust issues, Xinhua reported.
Along with the fine, the bureau also announced that three of Chrysler's car dealerships in Shanghai will also receive antitrust fines with a combined value of USD347,964.
According to the bureau, Chrysler signed a distribution agreement with car dealers between in which it required them to keep 'the manufacturer's recommended prices'.
The fine to Chrysler equals 3 percent of its annual revenue for involved products, the bureau added, as the fines were given in line with China's Anti-Monopoly Law.
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