Competition Commission of India imposes $13.6m fine on Hyundai Motor
The Competition Commission of India in its order alleged that Hyundai Motor India Limited (HMIL) contravened competitive practices by imposing certain arrangements upon its dealers including monitoring the maximum permissible discount level and mandating the use of recommended lubricants and oils.
The penalty has been levied at 0.3 percent of Hyundai Motor India's average relevant turnover of the preceding three years, the anti-competition watchdog said.
"For the purposes of determining the relevant turnover for the impugned infringement, revenue from sale of motor vehicles alone have been taken into account," the watchdog said, adding the final order was passed on the basis of information provided by the dealers. ■