CCI fines Hyundai Rs 420 Crores. Reva and Premier also face music

Trade regulator CCI has grounded carmakers restricting the sale of spare parts in the open market. Leading auto company Hyundai has been fined a whopping Rs. 420.26 Crores while Reva and Premier have been asked to 'cease and desist' from anti-competitive practices.

A total of Rs 2,544.64 Crores worth penalty was imposed on as many as 14 other companies August last year for the same reason. The list includes illustrious names like Honda Siel, Fiat, Volkswagen, BMW, Ford, General Motors, Hindustan Motors, M&M, Maruti Suzuki, Mercedes-Benz, Nissan Motors, Skoda, Tata Motors and Toyota Kirloskar Motors.

CCI declared there have been some ‘mitigating factors’ that have worked for Premier and Reva. Hence, the Commission has decided not to impose any fine on the duo.

However, other regulations would be applicable to the two as well.

Image credit: Indiatimes