Wednesday, March 3, 2021
Indian Drives
No Result
View All Result
No Result
View All Result
Indian Drives
No Result
View All Result
Home Featured

Competition Commission of India Fined 14 Auto Companies For A Total Of Rs 2,545 crore

by indiandrives
in Featured, Latest News
0 0
0
0
SHARES
8
VIEWS
Share on FacebookShare on Twitter

‘Fair practices’ and ‘fair competition’ are what the business schools teach to mangers and CEOs of these giant automotive companies. Still it couldn’t be tolerated how these important pointers of ethics were avoided when it came to light that Competition Commission of India (CCI) fined most of the automakers in India for violating certain norms.

As per to CCI, these automakers have escaladed fair play practices in the trade norms of spare parts and after market service. The regulation authority carried out an investigation last month and is yet to deliver the verdict.

The case came to light when three car owners visited local workshops and were surprised to find that genuine spare parts of their automobiles weren’t available freely in the market. Proving worst, those workshops too didn’t have the diagnostic tools required for a brief inspection. Drastically, they said the OESs were restricted by OEMs from retailing parts in the spare markets at a lower price tag.

Competition Commission of India Fined 14 Auto Companies For A Total Of Rs 2,545 crore

Naming the automakers on which the penalty is levied are BMW India, Mercedes-Benz India, Toyota Kirloskar, Honda Cars India, Fiat India Automobiles, Volkswagen India, GM India, Ford India, Nissan Motor India, Skoda Auto India, Hindustan Motors and Mahindra & Mahindra.

The total fine imposed on 14 auto companies is of Rs 2,545 crore. The individual amount concludes 2% of the company’s average turnover. It is slated the fined amount shall be deposited within 60 days after the receipt of order.  CCI claimed this anti-competitive practice has affected more than two crore customers so far.

In the line of having scored most shame amongst the competitors, Tata Motors stood first in the list with maximum fine of Rs 1,346.46 crore, Maruti followed on the second position with Rs 471.14 crore, Mahindra & Mahindra on third with Rs 292.25 crore, while the fourth goes to Toyota Kirloskar Motors worth of Rs 93.38 crore.

Tags: Competition Commission of IndiaCompetition Commission of India Fined 14 Auto Companies
Previous Post

Honda Mobilio RS (O) & V (O) Launched In India

Next Post

Tata Safari Storme Facelift Launch Soon: Spy-Shots

Next Post

Tata Safari Storme Facelift Launch Soon: Spy-Shots

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Archives

Recent Posts

  • Royal Enfield Himalayan 2021 Launched In India At Rs 2.01 Lakh
  • BMW X3 xDrive30i SportX Variant Launched In India: Prices Start At Rs 56.50 Lakh
  • Latest News From Indian Automobile Industry:Tata Safari, Mahindra Scorpio, Strom R3, Hyundai Alcazar
  • Honda CB350 RS Launched In India At Rs 1.96 Lakh: Bookings For The Motorcycle Commences
  • Hyundai Alcazar Name Confirmed For Upcoming 7-Seater SUV: Global Debut Soon

Categories

Indiandrives.com

© 2020 Indian Drives

Navigate Site

  • Auto Expo 2020
  • Aston Martin
  • Audi
  • Bentley
  • BMW
  • Buyers Guide
  • Car Comparison
  • Chevrolet
  • Driving Tips
  • Events
  • Featured
  • Ferrari
  • Fiat
  • Force
  • Ford
  • Great Wall Motors
  • Harley Davidson
  • Honda
  • Hyundai
  • Isuzu
  • Jaguar
  • Kia
  • Koenigsegg
  • KTM
  • Lamborghini
  • Latest Cars
  • Latest News
  • Lexus
  • Mahindra
  • Maruti Suzuki
  • Maserati
  • Mercedes Benz
  • MG Motor
  • Mitsubishi
  • New Car Reviews
  • Nissan
  • Peugeot
  • Porsche
  • Range Rover
  • Renault
  • Rolls Royce
  • Skoda
  • Tata
  • Test Drive
  • Auto Expo 2020
  • Toyota
  • Kia
  • Upcoming Cars
  • MG Motor
  • Used Car Reviews
  • KTM
  • Volkswagen
  • Isuzu
  • Volvo
  • Harley Davidson
  • MG
  • Great Wall Motors

Follow Us

No Result
View All Result

© 2020 Indian Drives

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In