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Kayaba, Sumitomo to pay millions for price-fixing in US

Kayaba Industry Co, which does business in the US as suspension parts maker KYB, and Sumitomo Electric Industries are facing payments in the millions to settle price-fixing cases about the components that they make. As part of the Department of Justice's ongoing crackdown of price fixing in the auto industry, KYB agreed to pay $62 million and pleaded guilty to conspiracy to set the cost of shock absorbers from the mid '90s through 2012. The company allegedly worked with co-conspirators to keep the cost of the parts high, and those components then made it into vehicles from Honda, Kawasaki, Nissan, Subaru, Suzuki, and Toyota. "Any collusive agreement among competitors to restrict price competition undercuts our free enterprise system and violates the law," said Carter M. Stewart, US Attorney of the Southern District of Ohio, in the DoJ's announcement. Over the past few years, the DoJ has brought cases against 37 parts suppliers and 55 executives, leading to over $2.6 billion in fines. The investigations haven't always been so successful – some of the Japanese execs fled from the US to avoid prosecution. Critics allege that price fixing is simply how business is done. According to Automotive News, Sumitomo Electric Industries is also facing a $50 million settlement in a civil lawsuit that's related to price fixing of parts like wiring harnesses and heater control panels. The plaintiffs include owners and dealers that purchased vehicles with these parts. The company asserts that the violations are from before 2010, and it now has different process in place to avoid further violations. KYB Agrees to Plead Guilty and Pay $62 Million Criminal Fine for Fixing Price of Shock Absorbers Kayaba Industry Co. Ltd., dba KYB Corporation (KYB) has agreed to plead guilty and to pay a $62 million criminal fine for its role in a conspiracy to fix the price of shock absorbers installed in cars and motorcycles sold to U.S. consumers. According to charges filed today, KYB conspired from the mid-1990s until 2012 to fix the prices of shock absorbers sold to Fuji Heavy Industries Ltd. (manufacturer of Subaru vehicles), Honda Motor Co. Ltd., Kawasaki Heavy Industries Ltd., Nissan Motor Company Ltd., Suzuki Motor Corporation and Toyota Motor Company, including their subsidiaries in the United States.

Takata airbag victim urges consumers to head to the dealership

A man who lost an eye in a low speed collision due to faulty Takata airbags is urging the owners of cars with recalled parts to take their vehicles into a dealership, before it's too late. The public service announcement comes from ConsumerWatch.com. In a video, the consumer rights website gives factual information about the recall, and adds a personal plea from Corey Burdick. The Florida man lost an eye due to shrapnel from an exploding Takata airbag. The Orlando Sentinel reported that Burdick was traveling just 15 mph in his Honda Civic when he collided with another car. There were no other injuries caused by the crash, except for the loss of Burdick's eye. He filed a lawsuit against Honda and Takata this year. "I lost my eye because of a defective airbag. Take your car in today so this doesn't happen to you," Burdick said. ConsumerWatch.com told Honda and Acura owners not to drive their vehicles until the faulty airbags were replaced. Good advice, as the National Highway Traffic Safety Administration also recently advised owners of 2001-03 Hondas and Acuras to get their airbags replaced immediately. NHTSA says airbag inflators in those vehicles have up to a 50 percent chance of exploding in an accident. But replacing the airbags isn't as easy as simply going into the dealership. Many owners who take their cars in for replacement are finding out that new parts are in short supply as manufacturers grapple with the largest automotive recall in US history. Takata may not have enough replacements until 2019, CNN reported earlier this year. The problem is so pervasive that some brand new cars were found to be sitting on dealer lots with faulty airbags still in place months after the initial recall. Some cars have received replacements that were also faulty and now will require a second trip to the dealer. However, waiting is not an option for many owners. At least 13 people have been killed and over 100 injuries have been blamed on the airbags. Related Video: News Source: consumerwatch.com, Orlando Sentinel, CNN Government/Legal Recalls Acura Honda Driving Ownership Safety consumer airbag Takata airbag recall

Honda: 2/3rds of our vehicles will be plug-in or hydrogen by 2030

Honda has a new and expanded vision for its plug-in electric vehicles, including more plug-in lawn mowers and construction machines. While things like the Miimo are cool, we'll admit that we're more into the heavy emphasis that Honda CEO Takahiro Hachigo just put on pure electric, plug-in hybrid, and fuel cell vehicles. In fact, Hachigo is so confident in these electric options that he said that Honda expects fully two-thirds of its vehicles will fit into one of those three categories by 2030. "We will make a plug-in hybrid type available for our major models" - Takahiro Hachigo Speaking at an annual speech in Japan, Hachigo talked about an electric version of the popular Honda Cub motorcycle, the EV-CUB. This electric two-wheeler could come to Japan in about two year and then to various countries in Southeast Asia. As for four-wheelers, the way that Hachigo sees electrification working is to first emphasize plug-in hybrids as the core of the brand's electrification efforts. Specifically, he said that, "we will make a plug-in hybrid type available for our major models and increase the number of models sequentially." The end result, he said, is that, "we will strive to make two-thirds of our overall unit sales from plug-in hybrid/hybrid vehicles and zero-emissions vehicles such as, FCVs and battery EVs by around 2030." The company's next hydrogen vehicle is the Clarity, which goes on sale in Japan in March. It's next-gen EV and PHEV should arrive in or around 2018. You can watch the speech in the video above. The electrification roadmap starts at around minute 32. The only other traditional automaker that is willing to put a big number on its upcoming electric vehicle sales is Audi, which said at the LA Auto Show last year that between 20 and 25 percent of its new vehicles sold will have a plug by 2025. If Audi wants to catch Honda's aggressive claims, it'll need to work hard in the five years after 2025. Related Video: