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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.

Weekly Recap: An '80s encore in the auto world

The '80s returned in a big way this week, as National Lampoon's, Ghostbusters, Miami Vice, and even Tetris were back in the news. While there were far more serious topics (see below), nostalgia mingled with modern marketing to put these Reagan-era favorites back in the spotlight. The '80s were alternately cold and corny at times, but their cultural touchstones can still generate big money. That's why Infiniti recreated an iconic scene from National Lampoon's Vacation (1983) for an advertisement that hawks the QX60 crossover. Actor Ethan Embry, who played Rusty Griswold in a later Lampoon's movie, pilots the Infiniti – which is serving as a modern Family Truckster – for a trip to Walley World. A blonde pulls alongside in a red Lamborghini. They flirt, and she drives on. Christie Brinkley, who played the original girl in the red sports car (she drove a Ferrari in the '83 flick), is riding shotgun and chides Embry with: "A blonde. In a convertible. Seriously?" Okay, it's hardly on the level of "here's looking at you," or even "you can't handle the truth," but it should resonate with '80s babies, many of whom are now having children of their own and moving into three-row SUVs like the QX60. Naturally, Hollywood is going back to the well, too, with a Vacation remake that premiers July 29. Meanwhile, Ghostbusters is returning next year, and director Paul Feig offered a peak at the new Eco-1 in this tweet. In the 1984 classic, the team drove a modified 1959 Cadillac. Now, it will drive a late '80s Cadillac. As expected, the announcement generated support and controversy from movie and car enthusiasts. His tweet had generated several thousand retweets and favorites in the days following the news. Though the '80s Caddy looks, uh, less elegant in comparison to the now-iconic fins and curves of the original Ecto-1, it's about the same time lapse into the past as the '59 Caddy was to viewers in 1984. Speaking of 1984, Miami Vice, which debuted that year on NBC, is seeing one of its hero cars hit the auction block, Mecum Auctions announced this week. The 1986 Ferrari used on the show will be offered for sale Aug. 15 during Monterey classic car week. The white supercar runs a 390-hp flat 12-cylinder engine paired with a five-speed manual transmission and was in storage after the show ended in 1989 until earlier this year. It has 16,124 miles on the odometer and is authenticated by Ferrari North America and Classiche.

The 11 best scenes from the 2015 Goodwood Festival of Speed

Over the last three days, the Goodwood Estate has played home to the eponymous Festival of Speed. Thrown by the biggest gearhead in the British aristocracy – Charles Gordon-Lennox, the Earl of March and Kinrara – the Festival of Speed is essentially a tremendous, gasoline-fuelled party, complete with a very large lawn sculpture, that features the world's hottest, weirdest, fastest, and loudest race, production, and historic models. While there are quite literally dozens and dozens of videos from the event – not to mention the full-day replays (of which only day one is available, at present) – we've sifted through them to pluck away the very best. There's stuff from the official Goodwood YouTube channel, as well as several videos from automakers and other third-party channels, and it's all available below. 2015 Ford Mustang GT350R Looks Barely Controllable If you thought the highest-performance Ford Mustang would somehow get more tractable or civilized once it moved to an independent rear suspension, this video shows you have nothing to worry about. Watch as an unnamed driver wrestles the new Shelby GT350R and its flat-plane, 5.2-liter V8 up the hillclimb circuit. Even with the new suspension and sticky tires, this Mustang wants to go any direction but straight, especially following its launch. 2016 Ford Focus RS, Is Very Loud, Blue Ken Block makes his first appearance on our list. Before he steps into his Hoonicorn Mustang, though, the Gymkhana expert tackled the hill in the all-new Focus RS. The vicious bellow of the 2.3-liter, turbocharged four-cylinder is the star of this commentary-free video, although the gorgeous Nitrous Blue paint job is a nice accompaniment, as well. 1965 Ford Mustang Hoonicorn Runs Hill, Nearly Kills Lord March Mr. Block's two runs behind the wheel of the Hoonicorn were, unsurprisingly, very eventful. While one attempt goes off without a hitch, seeing the American rally driver slip and slide his way to the top of the hill while taking a short break for a donut, the other is slightly more dramatic. Block, along with Lord March in the passenger seat, carries a bit too aggressive an angle into a turn and nearly puts the NASCAR-powered Mustang into the hay bales. Check out the first video above, and the second one below. Kimi Raikkonen Makes Us Miss F1's V8 Era The latest Formula One cars have been maligned for the lackluster noise produced by the new 1.6-liter, turbocharged V6.