29 May 2012

BMW fined for curb on Swiss sales

8:41 am on 29 May 2012

BMW has been fined a record $US163 million for restricting the sales of its cars to Swiss nationals.

The Swiss competition regulator says BMW has been preventing Swiss nationals from buying cars outside Switzerland.

The Swiss franc has risen about 20% against the euro over the last two years, which is encouraging Swiss customers to shop abroad.

The car maker rejects the charges and says it will appeal against the fine.

BMW says that its business practices have had no impact on competition in Switzerland.