2002 Toyota 4runner Sr-5 Sport Utility 4wd $5900. No Reserve Suv 4 Runner on 2040-cars

Auto blog

Japanese spark plug giant NGK pleads guilty to price fixing, to pay $52M fine

The ongoing investigation by the Department of Justice into price fixing in the automotive industry has nabbed one more company breaking the law. Japanese parts giant NGK Spark Plug Company agreed to plead guilty to a felony count of pricing fixing and bid rigging in the in the US District Court in Detroit. Its punishment is a $52.1 million criminal fine and to continue to cooperate with the DOJ's sleuthing into the problem.
According to the DOJ, NGK conspired to fix prices on spark plugs, standard oxygen sensors, and air fuel ratio sensors on vehicles from major automakers in the US, including the former DaimlerChrysler, Honda and Toyota, in a scheme that ran from at least January 2000 to July 2011. The charge claimed that the company and its co-conspirators held meetings where they agreed on bids and price quotes that were submitted to the automakers.
With the latest plea, the DOJ has caught 28 companies and 26 executives for price-fixing and bid rigging in the auto parts industry, and they have collected $2.4 billion in criminal fines. In 2013, the feds brought nine Japanese suppliers down at once, to collect $740 million. Scroll down to read the DOJ's complete announcement of the case.

Toyota teases 2016 RAV4 Hybrid for New York Auto Show

Toyota is being extremely enigmatic with its tease for the newly announced RAV4 Hybrid. The Japanese automaker merely has a photo of the model's rear end with a visible hybrid badge on it. The only additional into tells us to look forward to the CUV's debut in just a few days at the New York Auto Show on April 2. Thankfully, Toyota's teaser shot does give away a few more details about this new version of the RAV4. The LED taillights on display aren't the regular ones that wrap around the back of the popular crossover. In the current design, the white portion is placed near the middle of the hatch, and there's amber at the corner. Here, the indicator is clear and two strips of lights run towards the center. The automaker has made its plan clear to sell even more crossovers in the near future, and the RAV4 has already been a strong mover for Toyota. The company shifted 267,698 of them in 2014, a year-over-year jump of 22.7 percent. Through February 2015, it has sold 41,767 examples of the CUV, a 25.3-percent improvement over the same period last year. Still, the decision to launch a hybrid version of the RAV4 now is a bit surprising. The US market for the green segment was soft last year, and it hasn't really turned around yet. Although, rumors of Toyota launching a greener variant of its popular CUV have been around for years. At that time, the company said it would monitor market demand, and maybe the people have spoken. Related Video: A new hybrid joins the Toyota family. 2016 RAV4 Hybrid. See it April 2, 12:30 p.m. EDT at the New York International Auto Show. Featured Gallery 2016 Toyota RAV4 Hybrid: Teasers News Source: Toyota Design/Style Green New York Auto Show Toyota Crossover Hybrid 2015 ny auto show toyota rav4 hybrid

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.