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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.

Subaru boosting US capacity thanks to strong sales

It is very, very good to be Subaru right now. The company is rolling, with its global operating profits increasing 21 percent last quarter. While part of that is due to favorable currency conditions, the simple fact is that Subaru is selling a hell of a lot of cars, particularly in North America. The company's North American branch is expected to hit its sales goal of 600,000 units per year five years ahead of schedule, after moving 570,000 units in the recently completed fiscal year (remember, the Japanese fiscal year runs from April 1 to March 31). Last quarter alone, Subaru NA saw a 12 percent increase in sales, significantly more than either the company's home market or the increasingly vital Chinese market, where sales declined by one and 14 percent, respectively. With such promising results, it's no surprise that Fuji Heavy Industries President Yasuyuki Yoshinaga announced plans to bump up production at the company's Indiana factory. Yoshinaga-san is pushing for annual capacity of 394,000 units by the end of calendar year 2016, Automotive News reports, adding that inventory levels in the US are too low. "If only we had more cars, we could be selling more," Yoshinaga told AN during a news conference. FHI's previous plans for the factory were much less aggressive. Originally, production would be expanded to 328,000 units by 2017, AN reports, with an eye towards a full 400,000 units per year by 2021. With 394,000 rolling out of the Lafayette, IN factory by next year, though, it's clear how keen Subaru is to take advantage of such strong demand. News Source: Automotive News - sub. req.Image Credit: Dave Umberger / Associated Press Earnings/Financials Subaru sales fuji heavy industries

2015 Subaru Outback priced at $24,895*

Just a few weeks after announcing the pricing for the 2015 Legacy sedan, Subaru is getting ready to roll out the all-new 2015 Outback with a base price $24,895, plus an $850 destination charge. Like its platform-mate, the styling could be described as an evolution of the previous generation, but the company claims big changes underneath to improve comfort. It's scheduled to starting hitting dealers this summer.
The Outback continues to share most of its mechanical bits with the Legacy, including its engines. The 2.5-liter boxer-four-cylinder gets a touch more potent with 175 horsepower and 174 pound-feet of torque, and better fuel economy at 25 miles per gallon city, 33 highway and 28 combined. The 3.6-liter flat-six-engine has 256 hp and 247 lb-ft and also sees a marginal economy improvement at 20/27/22. All models now come standard with a CVT, and Subaru's Symmetrical All-Wheel Drive gets some improvements with standard Hill Descent Control, Hill Start Assist, Active Torque Vectoring and X-Mode, a system to increase traction when needed.
The base 2.5i trim goes for $25,745 (all prices after destination), up $425 from last year's CVT base model. It comes standard with a 6.2-inch touchscreen infotainment system with a USB port and AUX input. The 2.5i Premium trim retails at $27,845, but the upgrade nets buyers dual climate zones, a 10-way power driver's seat, leather-wrapped steering wheel, all-weather package and a 7-inch infotainment system. The 2.5i Limited costs $30,845 and includes leather upholstery, 18-inch wheels, a 12-speaker stereo, heated rear seats, lane change assist, rear cross traffic alert and a power tailgate. The top The 3.6R Limited trim is $33,845 and in addition to the bigger engine features HID low-beam headlights and stainless steel dual exhaust tips.