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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.

Trucks, SUVs drive U.S. October new vehicle sales

DETROIT — Major automakers posted mixed U.S. new vehicle sales in October on Wednesday, though America's love affair with high-margin pickup trucks and SUVs remained in full bloom as larger, pricier vehicles fared better than passenger cars. Auto industry publication WardsAuto put the seasonally-adjusted annualized rate (SAAR) for light vehicle sales in October at a robust level of 18 million units. But after a long boom cycle, carmakers are still ill-prepared for the slight decline in sales anticipated for full-year 2017 and have taken too few steps to trim production, said Doug Mehl, a partner in consultancy A.T. Kearney's automotive practice. "When you make a new vehicle, you have volume assumptions tagged to it, and who wants to be the guy who says, 'I'm going to make less of this really cool model'?" Mehl said. "But eventually the market is the reality, and it's going to force companies one way or other here." General Motors GM reported a sales drop of 2.2 percent for the month, with consumer sales down 6.6 percent. But sales of high-margin pickup trucks, sport utility vehicles and crossovers all rose. GM also cut its inventory of unsold vehicles — a source of concern for the market — slightly. The automaker has worked to reduce its volume of excess inventory, including through significant production shutdowns in the third quarter. GM had said its inventory would rise in October. "We are heading into the fourth quarter with good momentum, thanks to a strong U.S. economy and very strong pickup and crossover sales," said Kurt McNeil, GM vice president for U.S. sales operations. GM slightly reduced consumer discounts as a percentage of average transaction prices to 13.5 percent, from 13.7 percent in the third quarter. Industry experts believe consumer discounts above 10 percent of the average transaction price are unhealthy as they erode resale values and are unsustainable in the long term. Consultants J.D. Power and LMC said last week that based on preliminary October sales numbers, discounts have exceeded 10 percent in 15 of the past 16 months. Ford The U.S. auto industry posted record sales of 17.55 million vehicles in 2016. New sales received a strong boost in September as consumers replaced vehicles damaged in southeast Texas by Hurricane Harvey the previous month. Full-year 2017 sales are expected to be slightly lower than 2016.

Honda rolls out new N-Box Slash kei car in Japan

Honda may not compete with the likes of the expanding Fiat 500 and contracting Mini families in the North American or European markets, but back home in Japan it has a whole series of retro hatchbacks, grouped together as part of its N series. And now there is one more. Called the N-Box Slash (or N/ for short), the boxy but stylish new hatch is built to fit into Japan's rigid Kei car class, which means a tiny footprint no longer than 11 feet long and five feet wide. That makes it even smaller than the already-diminutive Smart Forfour or Renault Twingo, but into that compact form, Honda has fit five doors and four seats under a tall roof. In fact those front seats even fold flat and flush with the rear ones to make for as big a bed as you could possibly fit inside its compact dimensions. Technical details remain scarce, but power likely comes from the same 600cc three-cylinder engine - turbocharged or not, driving the front wheels or all four - as the rest of the N series, which already includes the N-One, N-Box, N-Box+ and N-WGN. Feel free to read the original Japanese or Google-translated press releases below, just don't expect it or any of its stablemates to show up in a North American showroom any time soon. 2014.11.27 ???????N-BOX SLASH(?????? ?????)????????????? Honda??12?22?(?)???????????N??????1?5?????????N-BOX SLASH(?????? ?????)?????????11?27?(?)?Honda????????????????? N-BOX SLASH?????????????N??????????????????????????????????????????????"???????"?"??????"??????????????????????????????????????????5???????????????Honda?????????? ???????????????N???????????????????? ?????????????????????? http://www.honda.co.jp/Nboxslash/new/ ?1 ?N??????????????????????????????????????Honda??????????????M?M(????????/???????)?????????????????????????????????????????????????????????????N??????1?????N-BOX(??????)???2?????N-BOX +(?????????)???3?????N-ONE(????)???4?????N-WGN(?????)? ?????????????? ?????????? 0120-112010(???????)?????????? ### (translated) 2014.11.27 Preceding publish new mini passenger car "N-BOX SLASH (NTT box slash)" in the home page Honda is, December 22 (Monday) to have plans to release "N" series ? 1 information about the fifth installment of the new mini-car "N-BOX SLASH (NTT box slash)", November 27 ( I was preceded published in Honda's home page on the tree).