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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.

Toyota Camry could lose No. 1 sedan spot next year [w/video]

Eleven months after Toyota claimed the 2012 sales crown a couple of months early thanks to the Camry, the headlines this year have been quite a bit different to last. Even though the Camry remains the best selling car so far in 2013 and its volume has increased year-on-year, it has lost market share due to the 20-percent sales explosion in the midsize segment. That means people are buying more of the competitor offerings like the Honda Accord, Nissan Altima and Ford Fusion - the Altima, in fact, outsold the Camry by 100 units in March.
In July it was reported that Toyota was upping Camry incentives and fleet sales to keep its lead and that dealer inventory was climbing as, again, competitors got better at fighting the champion. In August Ford doubled down on production of the Fusion, adding a line in Flat Rock, MI to keep up with demand.
Bloomberg has a report looking at the numbers behind the Camry's dominance, as well as what appears to be a recorded group interview with Toyota USA CEO Jim Lentz, and wonders aloud whether the Camry will be able to hold its top spot in 2014. Barring catastrophe it has this year locked up, being more than 30,000 sales ahead of the next-best seller as of the end of August, but it has done so with higher incentives and lower transaction prices than its competitors. According to Strategic Vision the Camry's consideration rate among consumers has also declined by a percentage point, while the consideration rate for the Accord and Fusion has increased by one point and two points, respectively.

Toyota produces millionth truck in Texas

After going online in 2006, Toyota's San Antonio, Texas truck plant has just built its one-millionth vehicle, the 2014 Tundra 1794 Edition you see above. The plant originally focused on just the Tundra pickup, but the smaller Tacoma started rolling off the line there in 2010, as well.
Fittingly, the 1794 Edition (a new premium trim level for 2014) pays homage to the property on which the Toyota plant now resides - a ranch that was founded in 1794. Scroll down for the official press release for the plant's milestone, and be sure to check out the full gallery of Tundra 1794 Edition images as well.