May 24, 2012 / 6:19 AM / 6 years ago

Swiss authority fines BMW $163 million over imports

ZURICH (Reuters) - The Swiss Competition Commission is fining Germany’s BMW 156 million Swiss francs ($163.44 million) for preventing direct and parallel imports.

A logo of BMW is pictured on a car before the German luxury carmaker BMW annual shareholders meeting at the company's headquarters in Munich, May 16, 2012. REUTERS/Guido Krzikowski

The commission gave no further details in a brief statement but said it would give more information at a news conference later in the morning.

The strength of the franc in recent years has prompted many Swiss consumers to cross the border to Germany, France or Italy to buy cars and import them to Switzerland.

($1=0.9545 Swiss francs)

Reporting by Emma Thomasson

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