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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.

2015 Shelby GT bows in Scottsdale with 627 supercharged ponies

Between the base V6, the EcoBoost turbo four, the eight-cylinder GT, the monstrous GT350 and the new GT350R (to say nothing of transmission and convertible options), muscle-car enthusiasts have a staggering array of Mustangs to choose from. And now there's one more as Shelby American has introduced the new 2015 Shelby GT. Building off the success of the 2007 Shelby GT and the 2013 follow-up, the new 2015 model was just introduced at the Ford booth at Barrett-Jackson in Scottsdale, AZ. It's based on the latest Mustang GT (whether factory fresh or commissioned from an owner's existing pony car) but upgrades with an enviable list of enhancements from Ford Racing Performance Parts, Shelby's own upgrades and top-shelf third-party components. For starters, the engine is supercharged up to 627 horsepower (with over 700 available through further upgrades). It's got 3.73 gears, a Borla exhaust, WELD Racing wheels, Michelin tires and Wilwood six-piston front brakes. Visual enhancements include a carbon-fiber body-kit (including a two-piece rear diffuser) and billet aluminum front grilles. Designed from the get-go to be sold around the world, the 2015 Shelby GT is certified for use in all 50 states and comes with a Shelby American CSM number registered in the company's registry, but all those enhancements don't come cheap: Shelby's charging $39,995 for the new GT, and that's just for the modifications. Add that to the $32k sticker on a Mustang GT donor and you're looking at over $70k – which is not only more than Ford itself is expected to charge for its own GT350, but more than Dodge gets for a Challenger Hellcat. Related Video: SHELBY AMERICAN LAUNCHES 2015 SHELBY GT MUSCLE CAR FOR ENTHUSIASTS WORLDWIDE LAS VEGAS – Jan. 16, 2015 – Shelby American, a wholly owned subsidiary of Carroll Shelby International Inc. (CSBI:PK), launched the first global Shelby GT muscle car, which is based on the all-new 2015 Ford Mustang GT. One of the most popular cars in Shelby history the 627 HP 2015 Shelby GT was unveiled today at the Barrett-Jackson Scottsdale Auction in Ford Motor Company's booth. Shelby is now taking orders with delivery of cars planned for the beginning of the second quarter of 2015.

Ford Recalls '13 Escape For 11th Time

Only in dealer showrooms for two years now, the 2013 Ford Escape has already been recalled for safety hazards 11 times. The most recent recall for the beleaguered vehicle came Friday, when the company announced it was recalling almost 160,000 Escapes and Focus ST hatchbacks from the '13 and '14 model years because of a wiring problem that could cause the engine to stall. Caused by a faulty wiring harness, Ford said the defect could result in reduced power, hesitation or outright stalling. The company said it knew of no crashes or injuries caused by the flaw. Customers affected will be notified by mail. It was the latest problem for a vehicle beset by recalls from the moment it started rolling off the assembly lines. Starting on July 6, 2012, the '13 Escapes have been recalled for an assortment of problems, including multiple hazards with fuel lines that could result in engine fires, fluid leaks in the engine that could also result in fires, problems with engines overheating, delays in airbags deploying and more. Ford