BMW next to lower spare parts prices in China

BMW (OTCPK:BAMXY) is now the latest foreign automaker in China to cut its spare parts prices.

The company says that it will lower its prices by 20% on average on more than 2,000 spare parts due to the anti-monopoly probe of China's National Development and Reform Commission.

Many foreign automakers have announced price cuts in recent weeks including Mercedes-Benz, Jaguar Land Rover and Audi.

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