4wd 4x4 Army Green On Black Cpo Certified Pre Owned Warranty 1 Owner on 2040-cars

Auto blog

DoJ fines Japanese parts firms $740M in massive automotive price-fixing scandal

Nine Japanese suppliers have pleaded guilty in US court over charges of price fixing in the automotive parts industry, resulting in the Department of Justice doling out a total of $740 million of fines, according to a report from Bloomberg. The scandal, which has resulted in General Motors, Ford, Toyota and Chrysler spending up to $5 billion on inflated parts and driving up prices on 25 million vehicles has sent the DoJ hustling into investigations. "The conduct this investigation uncovered involved more than a dozen separate conspiracies aimed at the U.S. economy," Attorney General Eric Holder (pictured above) said during yesterday's press conference.
As the investigation stands, the DoJ has issued $1.6 billion in fines against 20 companies and 21 individual executives, with 17 of the execs headed to prison. Deputy Assistant Attorney General Scott Hammond said, "The breadth of the conspiracies brought to light today are as egregious as they are pervasive. They involve more than a dozen separate conspiracies operating independently but all sharing in common that they targeted US automotive manufacturers."
Big-name suppliers indicted in the investigation include Mitsubishi Electric, Mitsubishi Heavy Industries, Hitachi Automotive and Mitsuba Corporation. A list of fines and other corporations named in the investigation is available at Bloomberg.

Nissan, Toyota offering payment deferments to people affected by government shutdown

Two weeks into the budget-related government shutdown and it sounds like some progress is finally being made, but that doesn't really help furloughed government employees pay their bills. To help out a little, Nissan and Toyota are joining Hyundai with offering payment deferments to current owners and lessees.
In a release, a Nissan spokesperson said the company is "sympathetic to any of our customers who find themselves in difficult financial circumstances - many times outside of their control."
Both Japanese automakers are allowing payment extensions of up to 90 days without penalties or fees. Unlike the Hyundai Assurance Plan, though, it doesn't seem like the Nissan or Toyota assistance will be extended to those who are still in the buying process. Scroll down for press releases from both companies about their respective payment deferment programs.

Toyota GT86 GT4 racer is ready for UK competition

It's about time we saw someone cook up a legitimate race version of the delectable Toyota GT86, and now it looks as if GPRM has done just that. The Buckingham-based race engineering team has built the creation you see here, complete with a turbocharged 2.0-liter, direct-injection four-cylinder boxer cooked up by Nicholson McLaren Engines. The team says the new mill delivers between 360 and 400 horsepower to the rear wheels depending on final testing, which is a sight bit more than the 197 horses the naturally aspirated stock mill offers.
The car will compete in GT4 events, including the Avon Tyres British GT Championship. Technically, the GPRM effort isn't factory backed, but the team says the effort "has the blessing of Toyota Great Britain." How could it not? You can check out the brief press release below below, and be sure to take a closer look at the machine in our gallery.