SAIC GM fined $28.9 million for price-fixing

Workers assemble car doors at a SAIC GM factory. [Photo/China Daily]

SAIC GM became the latest automaker punished for price-fixing when the National Development and Reform Commission imposed a 201 million yuan ($28.9 million) fine on them on Dec 16. The fine equals about 4 percent of the joint venture's sales in China last year. SAIC GM is one of the best-selling automakers in China, selling 1.67 million cars in the first 11 months of 2016, ranking second only to SAIC Volkswagen and FAW-Volkswagen. The commission has issued fines on automakers including Audi and Chrysler totaling 2.25 billion yuan since 2014.