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China fines Toyota $12.5 million over Lexus price-fixing

BEIJING — China's market regulator on Friday has fined Japanese carmaker Toyota Motor 87.6 million yuan ($12.5 million) for price-fixing on its premium Lexus cars in eastern Jiangsu province, according to a document on its website. The decision comes as China steps up regulation over auto sales in the world's biggest vehicle market, where more than 28 million cars were sold last year. The anti-monopoly bureau of State Administration for Market Regulation said that between 2015 and 2018, the Japanese carmaker set a minimum sales and resale price for its cars in coastal Jiangsu province, which deprived dealers of pricing autonomy and harmed customers' rights. Lexus also fixed sales strategies in the region over the period, including offering customers discounts while asking them to purchase accessories at fixed prices, a sales tactic usual among individual auto dealers in China but frowned upon for carmakers. A spokesman at Toyota, Lexus' parent firm, told Reuters the firm acknowledged the penalty and respects the decision. He did not comment further. China's auto sales are declining, but Lexus' sales keep growing. It sold 180,200 vehicles in the first 11 months this year, a 21% jump from a year earlier. In June, China's market regulator imposed an 162.8 million yuan fine on Ford Motor Co's joint venture with Changan Automobile Group for violating anti-monopoly law. ($1 = 6.9927 Chinese yuan renminbi) Reporting by Yilei Sun and Norihiko Shirouzu. Related Video:

Sell your own: 2003 Lexus SC 430

This is part of an occasional look at what's for sale on Autoblog. Looking to sell your car? We make it easy and free. Quickly create listings with up to six photos and reach millions of buyers. Log in and create your free listings. At the Lexus SC 430 preview - in the spring of 2000 - the disappointment among automotive journalists was palpable. Lexus had taken the truly captivating design of the first-generation SC and essentially disregarded it, replacing the earlier architecture with one drawn by Toyota's team in Europe. The contrast wasn't as strong (or dysfunctional) as when the Jag E-Type morphed into the most unfortunate XJ-S in 1976, but it was close. Some seven years after production of the SC 430 ended, however, a coupe/convertible prospect has the benefit of both hindsight and nostalgia. Lines that once looked almost awkward when juxtaposed against the first SC are softened by time. And while the SC 430's retractable roof wasn't the first execution of a coupe/convertible hardtop, you can assume it works more predictably than its German counterparts. While purportedly seating four, this is a tight 2+2. But with V8 power and a 3,800 pound curb weight, the SC 430 is a substantive, comfortable way of propelling yourself down the road; think of it as a Miata for those wearing 'plus' sizes. This for-sale example, with 165,000 miles, is well-used, and its $9K asking price is at the top of the dealer range. But if you like its color and equipment, a well-maintained Lexus should - and could - give you another 100,000 miles of reliable service. Related Video:

Lexus to reveal new concept in Geneva

When Lexus rolls in to the Geneva Motor Show this year, it will have some exciting metal to show off to the Old World crowds. Both the GS F performance sedan and the LF-C2 concept will be marking their European debuts at the Swiss expo. But it will have a new concept to showcase, as well. Just what form that concept will take is anyone's guess at this point, and Lexus isn't saying. The Japanese luxury marque's lineup consists primarily of sedans and crossovers, with the RC coupe and CT hybrid hatchback thrown in for good measure. The likelihood is that we'll be looking at either a new compact model or a large crossover, but that's all up in the air at the moment. Recent show cars from Toyota's upscale brand have included the RC F GT3 racer, the aforementioned LF-C2 convertible, the LF-LC sports coupe and the LF-NX concept that previewed the new NX compact crossover. Watch this space for more. Related Video: 03 Feb 2015 LEXUS AT THE 2015 GENEVA MOTOR SHOW • European Premiere of the new Lexus F-performance model, the 477PS GS F • European Premiere of the LF-C2 concept • World Premiere of a new Lexus concept Brussels, Belgium - The 2015 Geneva Motor Show will host a European introduction of the recent addition to the Lexus high-performance F-brand, the new GS F. World Premiered at this year's Detroit MS, the GS F is a refined four-door coupe with the speed and agility of a premium sports car. Equipped with a normally-aspirated 5.0l V8 engine, the GS F produces maximum power of 477PS and maximum torque of 530Nm. The GS F is the first Lexus to include the new comprehensive Lexus Safety System +. World Premiered at 2014 Los Angeles Motor Show, the LF-C2 concept will also have its European Premiere at this year's Geneva MS. The concept is a design study in the form of a 2+2 roadster that explores key styling themes involved in the Lexus brand's future, bolder styling direction. The LF-C2 is a luxury Grand Touring concept inspired by Lexus' passion for driving. Its open-air design derives from a pure sports coupe idea. Finally, during the Lexus press conference, a new Lexus concept will have its World Premiere. The Lexus Press Conference will take place on March 3, at 12:30 at the Lexus stand (number 4211) in Hall 4.