China to punish Audi, Chrysler for antitrust behavior

China’s anti-trust regulator said on Wednesday it would punish Audi and Chrysler after an investigation found the two luxury car markers has pursued monopoly practices, Reuters reported. Chrysler is owned by Fiat SpA (F.BIT) while Volkswagen (VOW.XETRA) owns Audi, and both are premium brands in China. The regulator, the National Development and Reform Commission, said an ongoing investigation into the two companies showed they had “conducted anti-competitive behaviors.” “They will be punished accordingly in the near future,” NDRC spokesman Li Pumin told a press conference in Beijing.