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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.

2023 New York Auto Show Live Updates: Hyundai's surprise, Nissan's super stand, '24 Wrangler

The 2023 New York International Auto Show shifts into high gear Wednesday, April 5, and our reporters are already in the city, with events unfolding even as we speak. We'll being seeing cars in person, interviewing automaker insiders and snapping photos of vehicles and all the other oddities that pop up at an event like this and we'll be giving you live updates and color from the show floor along the way.  Ram, Hyundai, Subaru, Kia, VW and Jeep are all expected to show something new this week, and other automakers are known to be hosting off-site events that may produce news — expected or otherwise. Genesis has already revealed its GV80 Coupe, for example, along with the fact that it has been confirmed as a production model. And we're just getting started.  Read on below for our observations from the show floor and points beyond: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.     Green New York Auto Show Genesis Hyundai Jeep Kia RAM Subaru Volkswagen Concept Cars Electric Future Vehicles

Subaru WRX STI S207 limited to 400 units in Japan only

Japanese Subaru fans are getting quite a treat in time for Halloween. The brand is unveiling the WRX STI S207 edition at the Tokyo Motor Show. Unfortunately for brand devotees elsewhere, the market-exclusive, high-performance model is limited to just 400 units there. For such a small run of cars, the folks at Subaru Tecnica International are adding quite a bit to take the STI's performance to new heights. Among the upgrades, the 2.0-liter, turbocharged boxer now makes 323 horsepower and 318 pound-feet of torque – a healthy jump compared to 305 hp and 290 lb-ft from the 2.5-liter engine in the US-market version. Beyond the extra power, the sedan also wears a load of parts to improve chassis stiffness and a DampMatic II adjustable front suspension from Bilstein. Styling sees some slight tweaks with a red-outlined mesh grille, chin spoiler, 19-inch BBS wheels, and a redesigned rear bumper. Inside, the front passengers are held tight in leather-trimmed Recaro seats. If the 400 units aren't exclusive enough, Subaru technically breaks the S207 into three special editions. A planned run of 200 units will feature the NBR Challenge Package that's inspired by the company's class victory in the 2015 Nurburgring 24 Hours. It adds a carbon fiber rear spoiler, black wheels, red seatbelts, and an Ultrasuede-covered steering wheel. A hundred of those are the NBR Challenge Package Yellow Edition that come exclusively in Sunrise Yellow with black-painted door mirrors and side sills. Depending on the version, prices before Japan's consumption tax would be between $46,050 and $48,950 at current exchange rates. Related Video: STI Releases "S207" Limited-Edition "WRX STI" in Japan October 28, 2015 Tokyo, October 28, 2015 – Subaru Tecnica International (STI),*1 the motorsports division of Fuji Heavy Industries, will launch a limited-edition model based on the "WRX STI" on December 1, 2015. Just 400 units of the model, dubbed the "S207", will be available. Taking the WRX STI as its base, this complete car from STI features exclusive engine and suspension tuning as well as distinctive interior and exterior design. Embracing the STI concept of offering the ultimate in road driving, the S207 stands at the pinnacle of the STI complete car lineup and aims to be the world's most enjoyable vehicle, providing a feel-good experience to all those who travel in it regardless of road conditions and enhancing driver skill. Special engine tuning boosts maximum power output to 328 PS.