Changan Ford: State Administration and Market Regulation

changan ford: The fine amounts to 4% of the company's sales in Chongqing last year, according to CNN. Ford F owns 50% of the joint venture, with the rest controlled by its local partner, state-owned carmaker Changan Automobile. China's State Administration for Market Regulation slapped Changan Ford with a 162.8 million yuan 23.6 million fine for setting minimum resale prices on its cars in the city of Chongqing, according to a statement posted on the regulator's website on Wednesday. Changan Ford's actions deprived downstream dealers of pricing autonomy, restricted competition and damaged the legitimate interests of consumers, the regulator said. Read More Changan Ford has taken corrective action in its regional sales management together with its dealers, a Ford spokesperson said in a statement. Car sales drop in China for the first time in 20 years Ford said it respects the market regulator's decision. (news.financializer.com). As reported in the news.