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Bosch fined $57.8 million by DOJ for price fixing and bid rigging

The US Department of Justice has been investigating bid rigging and price fixing among automotive parts suppliers for years, and so far the agency has leveled nearly $2.5 billion in fines against 34 companies. The latest business to be caught in this ongoing crackdown is Germany's Robert Bosch GmbH (Bosch), the world's largest independent auto component maker, and it agrees to pay a $57.8 million criminal fine to the Feds. According to the DOJ, Bosch has agreed to plead guilty to pricing fixing and bid rigging for spark plugs and oxygen sensors supplied to the former DaimlerChrysler, Ford and General Motors. The rigging is said to have occurred between January 2000 and July 2011. Bosch also allegedly played foul with starter motors sold to Volkswagen from January 2009 until at least June 2010. Bosch and other companies allegedly conspired on the pricing for bids to submit to automakers, and sold the parts at noncompetitive prices. The DOJ filed a one-count felony charge in US District Court for these actions. The company's plea is still subject to court approval, though. Bosch is only the third European company to be charged in this investigation, according to the DOJ. So far, many of the fined businesses have been from Japan, including Takata, NGK and others. Some execs have claimed price-fixing has been the standard operating procedure in the auto parts industry for a long time. Robert Bosch GmbH Agrees to Plead Guilty to Price Fixing and Bid Rigging on Automobile Parts Installed in U.S. Cars Robert Bosch GmbH, the world's largest independent parts supplier to the automotive industry, based in Gerlingen, Germany, has agreed to plead guilty and to pay a $57.8 million criminal fine for its role in a conspiracy to fix prices and rig bids for spark plugs, oxygen sensors and starter motors sold to automobile and internal combustion engine manufacturers in the United States and elsewhere, the Department of Justice announced today. According to the one-count felony charge filed today in the U.S. District Court of the Eastern District of Michigan, Bosch conspired to allocate the supply of, rig bids for, and to fix, stabilize and maintain the prices of, spark plugs and oxygen sensors sold to automobile and internal combustion engine manufacturers such as DaimlerChrysler AG, Ford Motor Company, General Motors Company and Andreas Stihl AG & Co., among others, in the United States and elsewhere.

Ford Gets The Aluminum F-150 Ready For Prime Time

Russell Barnett, a Ford dealer in Tennessee, is ready for aluminum. Ford is using the metal almost exclusively in body of the 2015 version of its best-selling F-150 pickup, which starts arriving at dealerships next month. Barnett is already answering customers' questions about the truck. And he's updated his repair shop not only for the F-150, but in anticipation that other Ford brands such as the Mustang will eventually make the switch from steel. But, just in case, he ordered some extra steel-bodied 2014 pickups. "There will be some people who won't want to change for a while," says Barnett, who says pickups make up around half of the annual sales at his dealership in rural Winchester. Ford is doubling down on aluminum, which is lighter - and more expensive - than steel but just as tough. The new truck is the company's response to customers' requests for a more fuel-efficient and nimbler pickup. Fordhopes the advantages outweigh customer doubts about the durability of aluminum or potential repair costs for the pricier metal. It's a big risk. So far this year, one out of every three vehicles Ford sold in the U.S. was an F-Series pickup. Morgan Stanley estimates F-Series trucks account for 90 percent of Ford's global automotive profit. On Tuesday, it kicked off production of the new truck at its Dearborn Truck Plant, four miles from the company's headquarters. "Yeah, this is a risk, but it's one well worth taking." said Bill Ford, the company's executive chairman, as he stood alongside the assembly line. "For our customer, this is a big, big leap forward." The trucks have been the best-selling vehicles in the U.S. for 32 straight years; last year, Ford sold nearly 100,000 more full-size pickups than General Motors. Aluminum isn't new to the auto industry, but this is the first time it will cover the entire body of such a high-volume vehicle. Ford made 647,697 F-150 pickups at its two U.S. plants last year; that's one every 49 seconds. If Ford's bet pays off, it could pad its lead in the lucrative truck market. More importantly, aluminum "future proofs" the truck - and the company - in an era of rising fuel economy standards, says Karl Brauer, a senior analyst with Kelley Blue Book. Ford will announce the truck's fuel economy figures later this month. That could determine if it steals customers away from the Silverado or Ram. Truck buyers are among the most loyal in the auto market.

Ford set to target pre-school market with next F-150 variant

How do you build a strong group of loyalists from the next generation of American drivers? You start em' young. Ford has taken that lesson to heart, as we can see in the first batch of images of the company's new entry to the pre-school market, the Power Wheels F-150. This particular example was caught returning from testing around Ford's base of operations in Dearborn, MI – covered in tiny little bits of camouflage, too. Now, this could very well end up being a collaboration between Power Wheels and Ford. Then again, it could just be some bored engineers that decided to troll the local congregation of spy photographers, who earlier today captured images of the next Focus RS and SVT Mustang. Whatever it is, it's pretty darn cool. Take a look up top for images of the new Power Wheels F-150.