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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 urges owners of old Corolla, Matrix and RAV4 models to park them until airbags are replaced

DETROIT — Toyota and General Motors are telling the owners of about 61,000 older Corolla, RAV4, Matrix/ Pontiac Vibe models to stop driving them because their Takata airbag inflators are at risk of exploding and hurling shrapnel. The urgent warning Monday covers: Certain Corolla compact cars and Matrix hatchbacks from the 2003 and 2004 model years. RAV4 small SUVs from 2004 and 2005. Also covered are about 11,000 Pontiac Vibes from 2003 and 2004, which are essentially the same as the Matrix and were made at the same California factory. Most of the vehicles are in the U.S. “If the airbag deploys, a part inside is more likely to explode and shoot sharp metal fragments, which could cause serious injury or death to the driver or passengers,” Toyota said in a statement. Owners can go to nhtsa.gov/recalls and enter their 17-digit vehicle identification number to see if their cars are affected. If you're not the original owner of the vehicle, the manufacturer's recall letter might not reach you, so be sure to do the VIN check. The recalled RAV4s have Takata driver's airbags while the Corolla and Matrix models have them on the passenger side. The Corolla and Matrix also are under a separate recall because their airbags can be deployed without a crash, the company said. Both companies said owners should contact a local dealer instead of driving the cars in for repairs. Dealers will provide options such as mobile repair, towing the car to a dealer, or vehicle pickup and delivery. Takata used volatile ammonium nitrate to create a small explosion to inflate airbags in a crash. But the chemical propellant can deteriorate over time when exposed to high temperatures and humidity. It can explode with too much force, blowing apart a metal canister and spewing shrapnel. At least 26 people have been killed in the U.S. by Takata inflators since May 2009, and at least 30 have died worldwide including people in Malaysia and Australia. In addition, about 400 people have been injured. The exploding airbags sent Takata of Japan into bankruptcy. The potential for a dangerous malfunction led to the largest series of auto recalls in U.S. history. About 100 million inflators were recalled worldwide. Recalls Pontiac Toyota Takata airbag recall

Toyota headed to New York with 2014 Highlander, revised Scion tC

Toyota has given us a look at what the company will bring to the 2013 New York Auto Show. Visitors will get to set their eyes upon the all-new 2014 Highlander, and while the automaker isn't saying much in the way of details, we do get the teaser you see above (click to enlarge) to ponder on until next week. The image shows little more than a headlamp and a bit of grille, but gives us the flavor of what the crossover will bring to the table.
Scion, meanwhile, says it plans to dust off the "new 2014 tC sports coupe." While we don't imagine the two door will have undergone a major surgery, we're interested to see what the automaker has cooked up. The tC last endured a redesign in 2011. Check out the brief press release below and look for the vehicles to bow on March 28.Y