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Vehicles travel along a busy road in New Delhi. India has fined car companies $421-million (U.S.) and forced them to open up the market for spare parts to rival manufacturers.
Vehicles travel along a busy road in New Delhi. India has fined car companies $421-million (U.S.) and forced them to open up the market for spare parts to rival manufacturers.
(MUKESH GUPTA/REUTERS)

Emerging market watchdogs could dent auto industry

Emerging markets are where the big growth is for auto makers. Now local competition watchdogs are using their heft to upend the car parts industry. India has fined car companies $421-million (U.S.) and forced them to open up the market for spare parts to rival manufacturers. If Chinese regulators take a similar approach, car makers’ earnings could suffer.