It was alleged that the company has a discount control mechanism whereby dealers are permitted only to provide a maximum permissible discount. Photo: MintNew Delhi: Competition Commission on Wednesday imposed a penalty of Rs87 crore on Hyundai Motor India for unfair business practices with respect to providing discounts for cars. In a 44-page order, the regulator said the company’s anti-competitive conduct include putting in place arrangements that resulted in resale price maintenance by way of monitoring of maximum permissible discount level. This was done through discount control and penalty mechanisms for non-compliance of the discount scheme, it added. “Such conduct pertains to and emanates out of sale of motor vehicles.

Source: Mint June 14, 2017 14:26 UTC