HONG KONG: Toyota Motor Corp’s Chinese auto finance unit has been fined by the authorities in the city of Hangzhou for alleged involvement in commercial bribery, China’s Xinhua News Agency reported on Tuesday.
Toyota Motor Finance (China) Co would be fined 140,000 yuan (US$20,850) for offering rebates to encourage three dealers to steer customers towards the unit and away from local banks between August 2008 and April 2010, Xinhua said, citing officials from a local administration for industry and commerce in Hangzhou.
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