Toyota to cut prices of Lexus auto parts in China amid anti-trust concern

SHANGHAI Thu Aug 21, 2014 2:07am EDT

SHANGHAI Aug 21 (Reuters) - Toyota Motor Corp said on Thursday it would cut prices of auto parts for its luxury Lexus models in China by an average 26 percent amid increasing scrutiny over anti-trust issues by the country's regulators.

The price cut will be effective from Sept. 1 this year, according to a statement posted on the Lexus website in China.

On Wednesday, China fined Japanese auto parts makers a record 1.2 billion yuan ($201 million) for manipulating prices as the government steps up its enforcement of an anti-trust law that has targeted major corporations and revived protectionism concerns. (1 US dollar = 6.1528 Chinese yuan) (Reporting by Kazunori Takada; Editing by Adam Jourdan)