Automakers lower prices following monopoly concerns

Antitrust regulator's investigation prompts response from three giants

Major international luxury car manufacturers are reducing the prices of their vehicles, parts and after-sales service under pressure from Chinese antitrust regulator's monopoly concerns.

"Cutting prices is a business act, and the government welcomes it," said Xu Kunlin, director of the Bureau of Price Supervision and Anti-Monopoly under the National Development and Reform Commission on Monday, confirming the moves of those luxury automakers came after "they were contacted".