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DoJ fines Japanese parts firms $740M in massive automotive price-fixing scandal

Nine Japanese suppliers have pleaded guilty in US court over charges of price fixing in the automotive parts industry, resulting in the Department of Justice doling out a total of $740 million of fines, according to a report from Bloomberg. The scandal, which has resulted in General Motors, Ford, Toyota and Chrysler spending up to $5 billion on inflated parts and driving up prices on 25 million vehicles has sent the DoJ hustling into investigations. "The conduct this investigation uncovered involved more than a dozen separate conspiracies aimed at the U.S. economy," Attorney General Eric Holder (pictured above) said during yesterday's press conference.
As the investigation stands, the DoJ has issued $1.6 billion in fines against 20 companies and 21 individual executives, with 17 of the execs headed to prison. Deputy Assistant Attorney General Scott Hammond said, "The breadth of the conspiracies brought to light today are as egregious as they are pervasive. They involve more than a dozen separate conspiracies operating independently but all sharing in common that they targeted US automotive manufacturers."
Big-name suppliers indicted in the investigation include Mitsubishi Electric, Mitsubishi Heavy Industries, Hitachi Automotive and Mitsuba Corporation. A list of fines and other corporations named in the investigation is available at Bloomberg.

2015 Shelby GT350 Mustang sounds racy as it revs [UPDATE]

UPDATE: It seems as though the GT350 exhaust was just too hot for YouTube. The video has been removed, as you can see. We'll keep combing the Interwebs for a new version. If you're somehow still on the fence about the 2015 Ford Shelby GT350 Mustang, then this video should provide some healthy encouragement about the new coupe. There's no high-speed action here, but you get to experience the wonderful sound of the GT350's 5.2-liter V8 with a flat-plane crankshaft start up, idle and throw some revs. At a twist of the key, the engine barks to attention, and a wonderfully crisp shriek comes from the exhaust when the driver blips the throttle. The GT350 even has a growly baritone at idle. According to the YouTube description, this car was on hand at the Carroll Shelby Tribute and Car Show in Gardena, CA. Unfortunately, videos online might be the best chance for many people to hear the wail of the latest GT350 for now. Ford is only building a total of 137 of them for the 2015 model year, but the numbers should pick up when the 2016 model year begins in just a few months.

John Hennessey's personal 2015 HPE700 Supercharged Ford Mustang GT hits 195 mph

Dressed in a coat of menacing black paint, the 2015 Hennessey Performance HPE700 Supercharged Ford Mustang GT definitely looks like one mean muscle machine. The 717-horsepower 'Stang proved that it can back up that aggressive appearance recently when company founder John Hennessey took his personal example to see just how fast it would go. The result down the 1.1-mile straight at the Continental Tires Proving Grounds in Uvalde, Texas, was over 195 miles per hour. The Mustang is nothing but a black blur and wall of supercharger wail as it buzzes by the camera at top speed. Despite the strong result, Hennessey doesn't seem done with the 'Stang yet. The car still seems to be pulling when it hits the rev limiter, and there's some straight track left ahead. After getting out, John Hennessey immediately says he thinks 200 mph is possible. The heart of the HPE700 is a 2.9-liter Roots-Type supercharger running at 7.25 psi. That's a pretty massive blower, especially when considering the 2.4-liter unit on the Hellcat V8. The engine also gets upgrades like improved injectors, a new fuel pump, stainless steel exhaust and recalibrated management. The company claims the upgraded Mustang can hit 60 in around 3.6 seconds and do the quarter-mile in 11.2 seconds at 131 mph. Prices for the package start at $59,500, but this one would would ring up for $65,874. Hennessey Performance is limiting production to 500 of them for the 2015 model year. 2015 HPE700 Supercharged Mustang Rockets to 195.2 mph John Hennessey takes his personal Mustang GT on a Texas road trip Uvalde, Texas-Everything is bigger in Texas, especially when it comes to automotive performance. Texas also lays claim to the highest posted speed limit in America at 85 mph. Enter the team from Hennessey Performance Engineering (HPE) who are located just west of Houston. John Hennessey and his merry band of performance car builders like to go fast, so much so that they have their own 1/4 mile dragstrip next to their workshop. Recently, the Hennessey team wanted to test their 717 horsepower HPE700 Supercharged Mustang development car (John's personal car and occasional daily driver) beyond the 130+ mph speeds that they have seen on the dragstrip. "Thankfully, we had recently received an invitation from the guys at the Continental Tires proving grounds in Uvalde to come over and do some testing on their 8.0 mile high speed oval", said Hennessey.