Volkswagen's audi brand 'admits antitrust behavior'

Germany-based automaker Volkswagen AG's premium brand Audi said in a statement on its website on Monday that the company's executives acknowledged its "antitrust" activities on Friday to the Bureau of Price Supervision and Anti-Monopoly under the National Development and Reform Commission.

The company was investigated by officers in Hubei province for its price controls imposed on local dealers, the NDRC said last week.

"The FAW-Volkswagen Audi Division has taken action immediately and stopped the illegal behavior," said Zhang Pijie, general manager of FAW-Volkswagen, a joint venture between the Chinese and German automakers that makes Audi vehicles.

"We sincerely accept any disposition and results made by the NDRC, and will further enhance and regulate our management of regional business to avoid similar mistakes in the future."

The NDRC last week officially confirmed that Audi, Chrysler Group LLC and 12 Japan-based vehicle and parts producers will be fined for monopolistic practices in the world's largest auto market. The government agency didn't give details.

Audi became the first involved company to admit its antitrust behavior in China.