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Kayaba, Sumitomo to pay millions for price-fixing in US

Kayaba Industry Co, which does business in the US as suspension parts maker KYB, and Sumitomo Electric Industries are facing payments in the millions to settle price-fixing cases about the components that they make. As part of the Department of Justice's ongoing crackdown of price fixing in the auto industry, KYB agreed to pay $62 million and pleaded guilty to conspiracy to set the cost of shock absorbers from the mid '90s through 2012. The company allegedly worked with co-conspirators to keep the cost of the parts high, and those components then made it into vehicles from Honda, Kawasaki, Nissan, Subaru, Suzuki, and Toyota. "Any collusive agreement among competitors to restrict price competition undercuts our free enterprise system and violates the law," said Carter M. Stewart, US Attorney of the Southern District of Ohio, in the DoJ's announcement. Over the past few years, the DoJ has brought cases against 37 parts suppliers and 55 executives, leading to over $2.6 billion in fines. The investigations haven't always been so successful – some of the Japanese execs fled from the US to avoid prosecution. Critics allege that price fixing is simply how business is done. According to Automotive News, Sumitomo Electric Industries is also facing a $50 million settlement in a civil lawsuit that's related to price fixing of parts like wiring harnesses and heater control panels. The plaintiffs include owners and dealers that purchased vehicles with these parts. The company asserts that the violations are from before 2010, and it now has different process in place to avoid further violations. KYB Agrees to Plead Guilty and Pay $62 Million Criminal Fine for Fixing Price of Shock Absorbers Kayaba Industry Co. Ltd., dba KYB Corporation (KYB) has agreed to plead guilty and to pay a $62 million criminal fine for its role in a conspiracy to fix the price of shock absorbers installed in cars and motorcycles sold to U.S. consumers. According to charges filed today, KYB conspired from the mid-1990s until 2012 to fix the prices of shock absorbers sold to Fuji Heavy Industries Ltd. (manufacturer of Subaru vehicles), Honda Motor Co. Ltd., Kawasaki Heavy Industries Ltd., Nissan Motor Company Ltd., Suzuki Motor Corporation and Toyota Motor Company, including their subsidiaries in the United States.

Recharge Wrap-up: Honda Legend Sport Hybrid launching in Japan; driving cross-country on chicken fat

Honda will begin sales in Japan of the Legend Sport Hybrid SH-AWD in January. The Legend is Japan's answer to the Acura RLX Sport Hybrid sold in the US. Up front, the new flagship sedan uses a 3.5-liter V6 with cylinder deactivation and a seven-speed, dual-clutch transmission with integrated electric motor. In the rear, a dual electric motor unit supplies power to the wheels. The three electric motors are also used for generating electricity during deceleration. The car has three drive modes, including EV Drive, Hybrid Drive and Engine Drive. The result is a fuel economy rating of 40 mpg, according to the JC08 cycle. Read more at Green Car Congress or in Honda's press release below. While Jay Leno explains how marketing early electric cars toward women caused them to lose out to internal combustion, the same can't be said about the current era of EVs. Leno says that early EVs, like Leno's beloved Baker, appealed to women because they were quiet, clean, and didn't require cranking to start them. This led to accessorization marketed toward women, causing men - who had more buying power than women at the time - to shy away from EVs. This time around, though, EVs target a broader audience in a different culture from the early 20th century. See Leno explain the early EV culture while driving his Baker Electric in the video below and read more at Hybrid Cars. GKN's two-speed eAxle allows EVs to make the most of both acceleration and top speed. Single-speed transmissions must sacrifice top speed for acceleration, or vice versa. In addition to improving performance at all speeds and increasing range, the GKN's eAxle also performs well in terms of NVH, providing seamless shifts and low gear noise. In order to package the eAxle in the BMW i8, the unit is just 12.8 inches by 22.1 inches by 12.3 inches and weighs 60 pounds. Read more at Green Car Congress. An alternative fuels researcher at Middle Tennessee State University will drive a truck powered by chicken fat biodiesel across the country. Professor Cliff Ricketts is driving a converted 1981 Volkswagen Rabbit pickup from Key West, FL to Seattle, WA to demonstrate the viability of chicken fat as a fuel. Ricketts admits, though, that the truck's exhaust stack is loud and smells like French fries. Read more at Domestic Fuel. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Honda, Hyundai top car residual value / depreciation awards list

J.D. Power announced its 2022 U.S. ALG Residual Value awards Thursday, with Honda and Hyundai topping the charts at three models apiece in the industry-standard study. The term "residual" is an industry projection of how well a car will hold its resale value three years from the original purchase date – a key metric in calculating lease costs and projecting new-car depreciation.  Award winners included several enthusiast-friendly options, including the BMW 2 Series, Dodge Charger, Subaru WRX, Mercedes-AMG GT and Toyota Tacoma. Even the Ford Bronco was recognized, beating out the Jeep Wrangler in the Off-Road Utility segment. That may seem odd given the car's issue-plagued launch, but scarcity apparently trumps quality control issues over the longer term. Here's a scrolling complete list of winners broken down by segment: “Accurately forecasting residual values in the auto industry is a key factor in assessing an estimated $225 billion lease portfolio of vehicles in the United States,” said ALG VP Eric Lyman in the company's announcement. "The brands and vehicle models that rise to the top demonstrate that they score well across the award programÂ’s criteria, including manufacturersÂ’ superior design and quality." ALG looks at several factors to determine future value, which is especially tricky with new models. For 2022, 16 different brands were recognized across 29 segments. Behind Honda and Hyundai, Audi, Kia, Mercedes-Benz, Land Rover and Subaru all managed to chart with two different models. Here's the rundown of those who won in more than one category: Honda Civic Honda Passport Honda Odyssey Hyundai Accent Hyundai Kona Hyundai Kona EV Audi A6 Allroad Audi Q3 Kia K5 Kia Telluride Land Rover Range Rover Velar Land Rover Discovery Mercedes-AMG GT 4-Door Mercedes-Benz Metris:  Subaru  WRX and  Subaru Forester Toyota Tacoma  Toyota Tundra "The award process consists of evaluating 284 models through analysis of used-vehicle performance, brand outlook and product competitiveness," the announcement said. "Eligibility for a brand award requires a manufacturer to have model entries in at least four different segments. To account for differences across trim levels, model averages are weighted based on percentage share relative to the entire model line."   Audi Honda Hyundai Kia Land Rover Mercedes-Benz Subaru Toyota