Jump to content
  • William Maley
    William Maley

    China Fines GM $29 Million For "monopolistic pricing"

    Sign in to follow this  

      It is official. GM to be hit with a $29 million fine

    China has fined General Motors $29 million for monopolistic pricing according to Reuters. This ends speculation that we first brought to light last week. The fine is due to GM setting minimum prices on certain Buick, Cadillac, and Chevrolet models.

    "GM fully respects local laws and regulations wherever we operate. We will provide full support to our joint venture in China to ensure that all responsive and appropriate actions are taken with respect to this matter," GM said in a email statement.

    It was speculated that the fine is due to comments made by president-elect Donald Trump about the U.S. possibly recognizing Taiwan. But sources tell Reuters that the investigation was already underway before Trump's comments. This is possibly a move by China to protect their companies. 

    Source: Reuters

    Sign in to follow this  


    User Feedback

    Recommended Comments

    Well....GM's biggest market is China.

    I guess GM will pay the fine and not say another word about it. Suck it up they will just to sell more Buicks...

    Could you blame them though?

    *SIGH*

    Why the sigh?

    Because although I understand its karma kicking the US in the ass for similar global foreign policy and economic strong arming that the US has done...it sucks when a country like China flexes its muscles like that!  (slave labour practices, environmental carelessness, cyber hacking, corporate thievery)

    (The USA was NEVER that outlaw-ish.....well...except from the 1980s and on when us North Americans allowed Wallstreet to take-over our lives)

    OK...this rant does NOT make me feel any better...

    Share this comment


    Link to comment
    Share on other sites

    Global domination is now being fought fiscally. Get use to it.

    At least now we may try to work some better deals vs to apologize and play dead.

    Share this comment


    Link to comment
    Share on other sites

    That works out to $29.00 or less per Buick sold in China in just 2016..... Plus GM sells a lot more than just Buicks in China.

    It's barely even a slap on the wrist.

    Share this comment


    Link to comment
    Share on other sites


    Join the conversation

    You can post now and register later. If you have an account, sign in now to post with your account.
    Note: Your post will require moderator approval before it will be visible.

    Guest
    Add a comment...

    ×   Pasted as rich text.   Paste as plain text instead

      Only 75 emoji are allowed.

    ×   Your link has been automatically embedded.   Display as a link instead

    ×   Your previous content has been restored.   Clear editor

    ×   You cannot paste images directly. Upload or insert images from URL.




  • Similar Content

    • By Drew Dowdell
      General Motors and Bechtel are teaming up to form a new company to deploy a widespread fast-charging network. Neither company plans to put any money into the project, outside investors are being solicited.  The network will help General Motors, which plans to introduce 20 new EVs by 2023.  It will also help other manufacturers of EVs. 
      General Motors will provide data to help decide where to locate the EV charging stations and Bechtel will use its own experts for the engineering and building of the stations. Much of the data will come from GM's OnStar system to help learn where people tend to park.  Data from both electric and gasoline powered vehicles will be used.
      Additional fast-charging infrastructure is seen as a requirement to increasing electric vehicle sales. According to a survey by AAA, one of the biggest concerns Americans have about EVs is having enough locations to charge them.  
      The network built by Bechtel and GM will not be limited to interstate highways where most fast charging stations have been located so far.  The company will also locate chargers in urban areas targeting apartments and condos where drivers cannot have a home charger of their own. 
      The new venture joins major initiatives from Electrify America, a Volkswagen funded EV station program, and Tesla with Supercharging, to build out a nationwide network of charging stations. 

      View full article
    • By Drew Dowdell
      General Motors and Bechtel are teaming up to form a new company to deploy a widespread fast-charging network. Neither company plans to put any money into the project, outside investors are being solicited.  The network will help General Motors, which plans to introduce 20 new EVs by 2023.  It will also help other manufacturers of EVs. 
      General Motors will provide data to help decide where to locate the EV charging stations and Bechtel will use its own experts for the engineering and building of the stations. Much of the data will come from GM's OnStar system to help learn where people tend to park.  Data from both electric and gasoline powered vehicles will be used.
      Additional fast-charging infrastructure is seen as a requirement to increasing electric vehicle sales. According to a survey by AAA, one of the biggest concerns Americans have about EVs is having enough locations to charge them.  
      The network built by Bechtel and GM will not be limited to interstate highways where most fast charging stations have been located so far.  The company will also locate chargers in urban areas targeting apartments and condos where drivers cannot have a home charger of their own. 
      The new venture joins major initiatives from Electrify America, a Volkswagen funded EV station program, and Tesla with Supercharging, to build out a nationwide network of charging stations. 
    • By Drew Dowdell
      GM is delaying the launch of the new inline-6 diesel engine bound for the GMC Sierra 1500 and Chevrolet Silverado 1500.  No longer available for ordering on the 2019s, GM has pushed the availability into the 2020 model year. 
      According the GM, the emissions certification process on the engine is taking longer than normal.   Customers who ordered a 2019 Silverado or Sierra with the diesel engine will have their orders canceled and will need to resubmit the order for a 2020 model year vehicle once they become available for order.  GM has yet to open orders for 2020 truck models with the diesel engine, but a GM spokesperson said that it will be "soon".
      Assuming the current pricing holds, the 3.0 liter Duramax diesel will be priced $2,495 over a 5.3 liter V8 and $2,890 over the 4-cylinder 2.7-liter turbo. 
      Meanwhile for 2020, GM is expanding the availability of adaptive cruise control and the 10-speed automatic across the lineup.  At Chevy, the Silverado will now have the optional 6.2 liter V8 on five out of the eight trim levels.  The 6.2 V8 will be paired with the 10-speed automatic and available on the Custom Trail Boss, RST, LT Trail Box, LTZ, and High Country. At GMC, the CarbonPro box will be available at no additional cost when paired with certain other packages on the Sierra AT4 and Sierra Denali, while the double cab Sierra Elevation Trim will now also be available in a crew cab. 
       

      View full article
  • Social Stream

  • Today's Birthdays

    1. CRAZY C
      CRAZY C
      (35 years old)
    2. Ergoman
      Ergoman
      (67 years old)
    3. tmp
      tmp
      (112 years old)
  • Who's Online (See full list)

    There are no registered users currently online

  • My Clubs

About us

CheersandGears.com - Founded 2001

We ♥ Cars

Get in touch

Follow us

Recent tweets

facebook

×
×
  • Create New...