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Bosch fined $57.8 million by DOJ for price fixing and bid rigging

The US Department of Justice has been investigating bid rigging and price fixing among automotive parts suppliers for years, and so far the agency has leveled nearly $2.5 billion in fines against 34 companies. The latest business to be caught in this ongoing crackdown is Germany's Robert Bosch GmbH (Bosch), the world's largest independent auto component maker, and it agrees to pay a $57.8 million criminal fine to the Feds. According to the DOJ, Bosch has agreed to plead guilty to pricing fixing and bid rigging for spark plugs and oxygen sensors supplied to the former DaimlerChrysler, Ford and General Motors. The rigging is said to have occurred between January 2000 and July 2011. Bosch also allegedly played foul with starter motors sold to Volkswagen from January 2009 until at least June 2010. Bosch and other companies allegedly conspired on the pricing for bids to submit to automakers, and sold the parts at noncompetitive prices. The DOJ filed a one-count felony charge in US District Court for these actions. The company's plea is still subject to court approval, though. Bosch is only the third European company to be charged in this investigation, according to the DOJ. So far, many of the fined businesses have been from Japan, including Takata, NGK and others. Some execs have claimed price-fixing has been the standard operating procedure in the auto parts industry for a long time. Robert Bosch GmbH Agrees to Plead Guilty to Price Fixing and Bid Rigging on Automobile Parts Installed in U.S. Cars Robert Bosch GmbH, the world's largest independent parts supplier to the automotive industry, based in Gerlingen, Germany, has agreed to plead guilty and to pay a $57.8 million criminal fine for its role in a conspiracy to fix prices and rig bids for spark plugs, oxygen sensors and starter motors sold to automobile and internal combustion engine manufacturers in the United States and elsewhere, the Department of Justice announced today. According to the one-count felony charge filed today in the U.S. District Court of the Eastern District of Michigan, Bosch conspired to allocate the supply of, rig bids for, and to fix, stabilize and maintain the prices of, spark plugs and oxygen sensors sold to automobile and internal combustion engine manufacturers such as DaimlerChrysler AG, Ford Motor Company, General Motors Company and Andreas Stihl AG & Co., among others, in the United States and elsewhere.

Ford F-150 SVT Raptor sales jumping to new heights

Ford can't seem to build F-150 SVT Raptors fast enough. The off-road-ready trucks have been one of the Blue Oval's most reliable sellers, with record sales in eight of the last 10 months and a 14-percent jump in 2013. That's impressive enough, considering that the least expensive Raptor starts at $44,000. Factor in the modded F-150's fuel economy (it's rated at 11 miles per gallon in the city and 16 on the highway) and a national average gas price, as of this writing, of $3.55 per gallon, and its success is as unlikely as Ford's home team, the Detroit Lions, winning the Super Bowl this year (sorry, Lions fans, we're just quoting the experts in Vegas...).
Yet for some reason, Raptors spend an average of just 15 days on dealer lots before being snapped up, which is a quarter of the 60-day industry average. According to Ford's truck group marketing manager, Doug Scott, it's capability that keeps the Raptor selling strong. "What's helping drive Raptor sales is that Raptor delivers unmatched off-road performance to our customers. Raptor is also proof of our commitment to offer a truck for every customer and continuously improving them to meet our customers' evolving needs."
To address the strong demand for Raptors, Ford will bump production from three trucks per hour to five. Not much, we agree. But building an extra 48 trucks per day, at most, seems like a prudent way of addressing demand without oversaturating what is ultimately a niche market. Check out the press release below for more.

Ford promises 12 new global performance vehicles through 2020

Ford just keeps rolling out the big announcements today. We've already told you about the next-gen Focus RS coming to the US and the upcoming Sync 3 infotainment system. And this latest one should perk up the ears of racing fans or anyone who enjoys an enthusiastic drive (basically, all Autoblog readers). The Blue Oval says it has "more than 12" new performance vehicles on the way globally through 2020. Unfortunately, the only one that the automaker confirms at the moment is the Focus RS, but recent rumors might suggest a few others. Ford reportedly has the Shelby Mustang GT350R, next-gen F-150 Raptor and a Ford GT successor all on the way, all of which could possibly debut at the Detroit Auto Show in January. The future GT might even take the company back to racing at Le Mans. Speaking of motorsports, Ford is also blending its performance vehicle and racing efforts worldwide into a unified entity by combining SVT, Team RS and Ford Racing into a new organization called Ford Performance. It's responsible not just for excelling on the track but also for developing aero improvements, electronics, powertrain and lightweight tech for the Blue Oval's vehicles. "Our new global Ford Performance team ties together racing, performance vehicles and parts. It will allow us to more quickly introduce products and accessories that meet the needs of customers around the world on-road and on the track," said Raj Nair, Ford group vice president, Global Product Development, in the company's press release. The automaker thinks this market might be booming, especially among younger buyers. For example, recent data shows Millennials buy ST models at twice the rate of the rest of Ford's cars. Scroll down to read the Blue Oval's full announcement of the new division and the plan to get excited about things to come. FORD DRIVING PERFORMANCE INNOVATION TO NEW LEVELS; MORE THAN 12 VEHICLES COMING FROM NEW GLOBAL TEAM Ford bringing more global performance vehicles to customers worldwide; more than 12 new performance vehicles through 2020 – including Focus RS – to be available globally Ford uniting regional performance engineering and racing teams as one global team under Ford Performance, delivering more new vehicles and parts, more quickly Ford will deliver more than 12 new performance vehicles for global enthusiasts through 2020, as the company announced today its new global Ford Performance team.