Toyota says Chinese regulators looking at Lexus
Toyota Motor Corp. says Chinese anti-monopoly regulators are looking at its Lexus luxury unit as a growing number of foreign automakers in China face scrutiny of their business practices.
Toyota spokesman Naoki Sumino said in Tokyo the company is "cooperating fully with the queries from the authorities on Lexus." He declined to give further details.
Chinese authorities said this week that Audi and Chrysler would be punished for unspecified violations of the country's anti-monopoly law. A government spokesman said regulators are looking at 12 Japanese companies in the auto industry.
Regulators have not disclosed the basis of their investigation. But industry analysts say they might be prompted by complaints prices of imported luxury vehicles and replacement parts are too high.
(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)