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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.

Lamborghini Huracan Sterrato and GMC Acadia driven | Autoblog Podcast #837

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor, Electric, John Beltz Snyder. They're both jazzed after driving the off-road-ish and totally sublime Lamborghini Huracan Sterrato. John recently drove the new GMC Acadia, Greg spent some time in the Toyota Camry, and they also discuss Autoblog's long-term Subaru WRX. In the news, the Porsche 918 Cayman and Boxster are reportedly ending production, while it's officially the end of the road for the Nissan GT-R and Volvo S60. Fisker has officially filed for bankruptcy. Cadillac has shown off a couple cool Blackwing special editions in honor of Le Mans. Finally, we reach in the mailbag and help a listener pick a sporty convertible in this week's Spend My Money segment. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #837 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we're driving: 2024 Lamborghini Huracan Sterrato 2024 GMC Acadia 2025 Toyota Camry Long-term 2023 Subaru WRX Porsche 718 Cayman and Boxster allegedly end production in October 2025 2024 Nissan GT-R the final year for the U.S. market 2025 Volvo S60 the last model year for the sedan in the U.S. Fisker files for Chapter 11 bankruptcy 2025 Cadillac CT5-V Blackwing 'Le Monstre' and CT4-V Blackwing Petit Pataud limited editions celebrate Le Mans Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: Podcasts Cadillac Fisker GMC Lamborghini Nissan Porsche Subaru Toyota Volvo Coupe Crossover SUV Electric Hybrid Luxury Off-Road Vehicles Performance Supercars Sedan

Subaru to return to Isle of Man with 2015 WRX STI hoping to set new record [w/videos]

This is what it looked like when Mark Higgins set the lap record at the 37.75-mile TT Mountain Course on the Isle of Man in 2011 in a Subaru WRX STI. And it will probably look much the same when Higgins returns to the chunk of land in the Irish Sea to with the aim of breaking his record, set at an average speed of 115.36 miles per hour, but he'll do so in a 2015 WRX STI. As in 2011, he'll drive a mostly stock US sedan fitted with a roll cage, race harness, fire suppression system and upgraded springs and dampers. We're sure he'll be hoping to avoid a repeat of "The biggest moment of my life," though. There's a press release below with more information on the coming attempt, including dates, and we've included a video of that "moment" as well as one of the whole record run. Godspeed, Mr. Higgins. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. SUBARU TO DEBUT NEW 2015 WRX STI AT THE ISLE OF MAN TT COURSE AND ATTEMPT NEW FASTEST LAP Thursday 17th April 2014 -- Subaru of America, Inc. announced today that Subaru will return to the fabled Isle of Man TT Races and attempt to beat its own fastest car lap time. The current record of 115.36mph for the iconic 37 3/4 mile TT Mountain Course was set three years ago by Mark Higgins in a (2011) Subaru WRX STI. Higgins will return to drive the new 2015 Subaru WRX STI. The car Higgins will drive is a stock U.S.-spec 2015 WRX STI, with the exception of a roll-cage, race harness, fire suppression system and modified springs and dampers to handle the sustained high speeds of the course. Subaru will also return as a partner with the Isle of Man, renewing its sponsorship of the race. "We are very excited to return for another attempt of the TT course and to be the official car of the TT," said Dominick Infante, National Manager of Product Communications, Subaru of America, Inc. "The Isle of Man is paradise for anyone who appreciates motorsport and there is nothing like the TT road course anywhere else." In his previous attempt on the course, Higgins created one of the most memorable race videos when he had a self-described "moment" at the bottom of Bray Hill at 150 MPH. The video has received almost 10 million views via various media outlets.