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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 XV Crosstrek gets special edition model, retina-searing paint

It's not going to be hard to spot the buyers of the upcoming 2015 Subaru XV Crosstrek Special Edition driving around town thanks to the model's exclusive, blazing Sunrise Yellow paint. But you can think of the loud color as Subaru's way of celebrating a record year in 2014 with 513,693 vehicles sold, easily beating its half-million-car goal. The Crosstrek was also the company's third-best-selling vehicle last year, behind the Forester and Outback. Limited to 1,000 units that begin arriving in the spring, the Special Edition is priced at $25,290, plus $850 destination and delivery. For that money, Subaru gives buyers a compact crossover based on the 2.0i Premium with some extra kit. In addition to the sunny paint, all of these models come with a power moonroof, body-color folding mirrors and blackened headlight bezels. The all-weather package is also standard with heated exterior mirrors, a windshield wiper de-icer and heated front seats. The biggest upgrade inside is Subaru's Starlink multimedia system that includes a seven-inch touchscreen with voice-activated controls, multi-touch support and two USB ports. Keyless access with push-button start and leather wrapping for the shift lever and steering wheel also come with this version. There's nothing new underneath the bright paint and improved interior, though. The Special Editions get the same 2.0-liter boxer four-cylinder engine making 148 horsepower and 145 pound-feet of torque as the rest of the lineup. As expected, power is routed through a CVT to Subie's all-wheel drive system. Read more below about Subaru's limited take on the Crosstrek. SUBARU ANNOUNCES XV CROSSTREK SPECIAL EDITION - Limited edition production model with 1,000 units - Based on 2.0i Premium trim - New exterior color Sunrise Yellow - Priced at $25,290 Cherry Hill, N.J. - Subaru of America, Inc., which has posted record-breaking sales every year for the past six years, today announced the introduction of the 2015 XV Crosstrek Special Edition. The Special Edition will be limited production of 1,000 models arriving into retailers in Spring 2015. Based on the well-equipped 2.0i Premium trim, the Special Edition is priced at $25,290 (plus $850 d&d). The versatile, fun-to-drive XV Crosstrek combines bold five-door design, a highly capable chassis, best-in-class fuel economy and in-demand multimedia features.

Subaru ups US sales projections to 500k units

Subaru is going absolutely gangbusters so far in 2014, with growing year-over-year sales every month this year adding to the streak of 33 consecutive months. The prognosis is so positive that the Japanese brand is revising its 2014 forecast to 500,000 vehicles or more, from a previous estimated 460,000. If it reaches the goal, it would be the first time that the automaker hit the half-million mark here.
Subaru has been growing steadily in the US for a while now. Annual sales have increased for the past five consecutive years with 2014 not indicating for that to change. For August alone, the company moved 50,246 vehicles, up 22.37 percent year-over-year, and the business proclaimed it as the best month in its history.
According to Subaru, it believes that the growth for the last two years has been fueled by the latest Forester and XV Crosstrek last year and the new Legacy and Outback this year. "The market is telling us that we are delivering products that consumers want at the right prices," said Thomas J. Doll, president and chief operating officer at Subaru of America. Scroll down to read the company's full announcement.