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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.

Ford considering return to Le Mans with new EcoBoost LMP2

If you want to see a Ford racing prototype, you need look no further than the United SportsCar Championship, where the Blue Oval fields two Daytona Prototypes powered by an EcoBoost-branded 3.0-liter twin-turbo V6. But according to the latest rumors, that may not be enough for Ford, which has as much brand to promote overseas as it does back home.
That could be why Racer magazine is reporting that Ford may be poised to return to Le Mans in the coming years. As we all know, Ford competed at Le Mans in the mid-through-late '60s, bringing home four consecutive overall wins with the legendary GT40. The new program would not, according to Racer, seek to relive those glory days, but would instead compete for class wins in the LMP2 category.
Currently, LMP2 regulations are somewhat split between the United SportsCar Championship in North America on the one hand and ACO-sanctioned series like the European Le Mans Series, Asian Le Mans Series and FIA World Endurance Championship on the other, but plans are underway for the regulations to be unified in time for the 2017 season. That could be when Ford is targeting its return, allowing it to compete on both sides of the Atlantic to maximize its exposure.

Ward's Automotive Ten Best Engines of 2014 dominated by diesels, turbos

With the Car and Driver Ten Best decided, the North American Car and Truck of the Year finalists announced and Cadillac, Ram and Subaru chalking up wins with Motor Trend, it's fair to say that the automotive awards season is in full swing. The next set of trophies to be handed out will be from Ward's Automotive, which has announced the winners of its 2014 10 Best Engines.
The latest contest was marked by the widespread emergence of diesel power and the continued success of turbocharged engines. There was even an electric motor on this year's list. In fact, only three of the ten winners were naturally aspirated and only two winners returned from last year.
"We weren't looking to throw the bums out, as they might say about an election. We were just really impressed with the flood of new powertrains," said Ward's Automotive Editor-in-Chief Drew Winter. Those new powertrains include the 83-kilowatt electric motor from the Fiat 500e, the 1.0-liter, EcoBoost three-cylinder from the Ford Fiesta and the 2.0-liter turbodiesel from the Chevrolet Cruze.