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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.

Coming Toyota Supra to forgo hybrid, get a BMW six-cylinder turbo?

For years, almost all of the talk about the Toyota FT-1 concept becoming a resurrected Supra envisioned a hybrid under the hood. And then the latest take on Future Toyota 1 showed up at the 2014 Detroit Auto Show and - although Toyota wouldn't say a word about any engine at all - horizons began to expand. Imaginary fancies were aided by the news that Toyota had partnered with BMW to develop a sports car on the next-generation BMW Z4 platform, which would necessarily mean an engine bay designed to accept an old-fashioned hunk of gas-burning iron-working solo. Car and Driver now turns the whole thing around, reporting that there will be an inline-six with forced induction provided by BMW under the hood. What about that hybrid, though? The report states, "there's currently no indication that the Silk Road cars will offer hybrid options" - 'Silk Road' being the codename for the jointly-developed vehicles. CD makes a point to note that said tidbit came from Germany, not Japan. However, designers at Toyota's Calty studio did tell Automotive News last year that they designed the body with an inline-six in mind, a nod to the Supra's history. Hybrid rumors aren't dead yet, though - remember, we were hearing about all-wheel drive and supercapacitors in May 2014. The coupe is predicted to be a 2018 model, making its appearance sometime in 2017, and be "about 10 percent" smaller than the FT-1 concept. Related Video:

Toyota has now sold over 7 million hybrids

You take your victories where you can. In Toyota's case, that means disclosing the cumulative total of hybrid sales since the first Prius was sold in Japan in 1997. And that number is impressive. During its monthly conference call discussing sales, Toyota representatives noted that the automaker has sold over 7 million hybrids during the past 17 years. The Japanese automaker started selling the Prius in the Japan in 1997 (and in US in 2000) and firmly established itself as the world's largest hybrid maker. Today, Toyota sells four Prius models as well as gas-electric versions of the Camry, Avalon and Highlander in the US. Of course, such big sales aren't always easy to match, and Toyota's been lagging behind 2013's numbers all year. Including its Lexus division, Toyota's green-car sales including the low-volume RAV4 electric vehicle fell 10 percent from a year earlier in September to just over 21,000 vehicles. Through the first three quarters of the year, Toyota's green-car sales were down 9.1 percent to almost 247,000 vehicles. That still dwarfs any other automakers' green-car numbers. Toyota crossed the 6 million hybrid threshold in January when it doubled the 3 million total from March 2011. Toyota will start selling its first mass-produced hydrogen fuel-cell electric vehicle in Europe next summer, and hopes that it will repeat the long-term success that the Prius has enjoyed, according to Automotive News Europe. For a transcript of the September sales call, click here.