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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.

2014 Toyota Corolla and Tundra production underway

After months of leaked photos and speculative reports, Toyota finally unveiled its 2014 Corolla to the world in early July at a star-studded California party. The confetti has been swept up and the champagne flutes washed and stored, and now the real work can begin: production. Toyota has announced that its new C-segment player has begun rolling off the lines at its plants in Mississippi and Ontario, Canada this week ahead of the planned start of sales in September. What's more, the refreshed 2014 Tundra pickup has also segued into production in San Antonio, Texas.
Corolla production in Mississippi is still a relatively recent phenomenon, with the plant having begun assembly of the outgoing model in the fourth quarter of 2011, while Toyota's Cambridge, Ontario plant has been churning out the compact volume king since 1988. Conversely, the Tundra has been in production at the Texas facility since 2006, and Toyota projects that the plant will build its milestone one-millionth new vehicle in September, right around the time the reworked fullsize pickup goes on sale.

Toyota and Suzuki are looking at an R&D partnership because they admit they're behind

The Chairman of Suzuki Motor Corporation, Osamu Suzuki, and the President of Toyota, Akio Toyoda, have convened at Toyota's Tokyo offices to declare plans to join hands regarding research and development. According to Toyoda, Toyota "hasn't been good at creating alliances," and its partnership with the small carmaker Daihatsu has been the most well-known collaboration so far. Perhaps the comment has a tinge of regret from Toyota and GM's NUMMI days in Fremont, especially as the statement released by Toyota says that "Toyota is conscious of the fact that it may be behind competitors in North America and Europe when it comes to the establishment of standardizations and partnership with other companies." But as different technologies advance at breakneck speed and it is difficult for companies both big and small to stay competitive, let alone ahead of the game, Toyota is accepting the need for collaboration. Toyoda referred to passenger safety, environmental issues, automated driving, and hydrogen technology, all of which are key challenges for any carmaker looking to stay relevant, and all expensive to experiment with. Spreading the cost over more vehicles should help. "We received an offer from Suzuki regarding collaboration possibilities on advanced and future technologies such as in information technology. Suzuki made a frank proposal to us, and in understanding that Toyota is facing the challenges which I had mentioned earlier, we thought that with the relationship between both companies, there is an opportunity for a business partnership to help solve such challenges. As such, we decided to explore such possibilities together," said Toyoda. In the future, Daihatsu will still be Toyota's tool in emerging markets, but now Toyota could have access to Suzuki's small-car know-how. Osamu Suzuki acknowledges that "Suzuki's current business focuses on minivehicles in Japan and India," as Suzuki withdrew from the US and Canada in 2013. A joint effort will help Suzuki remain relevant, and as a manufacturer of predominantly small vehicles it has been focusing on competitive pricing more than cutting edge technology. Related Video: