NEW DELHI (AFP) ― India’s antitrust watchdog has fined 14 automakers a total of $420 million for restricting competition in the spare parts market and driving up prices, a official said Tuesday, a few days after Chinese regulators took similar action.
The Competition Commission of India found domestic automakers and local units of global vehicle manufacturers guilty of “anti-competitive conduct” by curbing the number of spare parts and ordered them to “immediately cease-and-desist.”
The commission said in a hefty 215-page report the automakers’ actions had made parts unnecessarily costly for around 20 million Indian consumers. Mark-ups on some parts were as high as 4,800 percent.
The body added some automakers behaved responsibly towards consumers in Western markets but failed to replicate such practices in India, which made their actions “even more deplorable.”
India’s car market is now the world’s sixth largest.