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DoJ fines Japanese parts firms $740M in massive automotive price-fixing scandal

Nine Japanese suppliers have pleaded guilty in US court over charges of price fixing in the automotive parts industry, resulting in the Department of Justice doling out a total of $740 million of fines, according to a report from Bloomberg. The scandal, which has resulted in General Motors, Ford, Toyota and Chrysler spending up to $5 billion on inflated parts and driving up prices on 25 million vehicles has sent the DoJ hustling into investigations. "The conduct this investigation uncovered involved more than a dozen separate conspiracies aimed at the U.S. economy," Attorney General Eric Holder (pictured above) said during yesterday's press conference.
As the investigation stands, the DoJ has issued $1.6 billion in fines against 20 companies and 21 individual executives, with 17 of the execs headed to prison. Deputy Assistant Attorney General Scott Hammond said, "The breadth of the conspiracies brought to light today are as egregious as they are pervasive. They involve more than a dozen separate conspiracies operating independently but all sharing in common that they targeted US automotive manufacturers."
Big-name suppliers indicted in the investigation include Mitsubishi Electric, Mitsubishi Heavy Industries, Hitachi Automotive and Mitsuba Corporation. A list of fines and other corporations named in the investigation is available at Bloomberg.

Toyota Camry, Honda Civic inventories mounting as US automakers make inroads

Two of the hottest-selling cars in America aren't quite as hot as they used to be. The Toyota Camry and Honda Civic are both seeing dealer supplies increase in the face of renewed competition from the much-improved Detroit Three.
According to a report from The Detroit News, the Camry's dealer inventory is 15 days higher than its seasonal average, while the Civic is 25 days above average. Things aren't expected to get better for Toyota and Honda, as RBC Capital Markets analyst Joseph Spak marked the two Japanese offerings as "at risk for reduced output."
The Detroit Three, meanwhile, are seeing supplies dwindle as demand increases, especially for the Ford Fusion, which has seen an 18-percent increase in 2013 sales, and the Chevrolet Cruze, which was second only to the Camry in June 2013 sales.

130,000 Toyota Tundra pickups recalled over airbag issue

Toyota is announcing a recall for about 130,000 examples of the 2014 Tundra Tundra pickup in Crew-Max Cab and Double Cab configurations.
According to the company, the "garnish on the center pillars" inside the trucks might not have been installed correctly. If the vehicle were in an accident, the side curtain airbags could deploy in the wrong shape. Toyota says that it's not aware of any crashes, injuries or fatalities related to this potential problem.
To fix the issue, the pickups will have their interior center pillars inspected, and if faulty, the pieces will be replaced. Obviously, this will be done at no cost to owners. Scroll down to read the full announcement.