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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.

Cosworth announces Power Packages for Subaru BRZ, Scion FR-S with up to 380 hp [w/video]

Cosworth stands on the list of the most famous engine tuners in the world with its DFV engine engine dominating Formula One for a time in the '70s. So when it teases plans to take on the FA20 engine from Subaru and Toyota found in the BRZ, Scion FR-S and Toyota GT86 abroad, our interest is indeed piqued. Cosworth is promising to take the 2.0-liter, four-cylinder boxer engine from its current 200 horsepower all the way to 325 hp and even 380 hp in a future track version through a series of staged Power Packages. At the moment, only the first stage is available that takes the mill to a potent 230 hp.
Cosworth says that its new strategy is to offer its upgrades in kits rather than individually so that it can be sure that everything works and fits when owners receive it. The Stage 1 Power Package emphasizes helping the FA20 breathe better and includes a nearly complete replacement for the stock exhaust system. There is a sports exhaust with four-inch, diagonally cut, polished tips and Y-shaped muffler, an overpipe front pipe with a spherical resonator and a new manifold header that is 22 percent lighter the standard unit. In addition to that, the kit comes with a software reflash, low temperature thermostat, Cosworth badge and plaque.
The stage one kit is available now, and stages two and three go on sale later this summer, according to its website. Autoblog contacted Cosworth for pricing information for the kits. We will update this story, if we hear back. The company also released a video showing off the exhaust upgrades. Scroll down to watch it and read the full release, below.

Toyota, Lexus dominate KBB's Best Resale Value Awards

Toyota and Lexus stormed the 2014 Kelley Blue Book Best Resale Value Awards, winning a combined 18 categories including best brand and best luxury brand. This marks the third year in a row that both automakers have won the Brand and Luxury Brand resale value awards. In all, Toyota won 11 categories and Lexus won seven.
Honda made a good showing, as well, winning two segments (Accord Plug-In Hybrid and Civic Si) and putting one car on the top-10 Best Resale Value list (CR-V). Chevrolet did even better, winning two segments (with the V6 Camaro and the Corvette) and placing three cars on the top-10-overall list (again, the Camaro and Corvette, plus the Silverado 1500).
The other winners came from Jeep, Dodge, Infiniti, Subaru and Audi. To give you a clearer picture of the Toyota and Lexus domination, their 18 mentions represents more than half of the 34 awards (including the top-10-overall list).