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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.

Thieves still love older Hondas and pickups most, says NICB [w/video]

No one wants to have their car stolen, but a new study by the National Insurance Crime Bureau has some bad news for older Honda owners and pickup drivers. Fortunately, it has better news for drivers overall. The group is reporting that according to preliminary data from the Federal Bureau of Investigation, thefts were down 3.2 percent in 2013 (versus 2012) to fewer than 700,000 cars. That's the lowest figure since 1967. That's also less than half of the peak of over 1.66 million thefts in 1991. "The drop in thefts is good news for all of us," says NICB President and CEO Joe Wehrle. "But it still amounts to a vehicle being stolen every 45 seconds and losses of over $4 billion a year."
Honda drivers might not find it such good news with older Accord and Civic models topping this year's theft study. Toyota and Dodge can't really celebrate, either, with two models each on the list, as well. Overall, this year's list was split evenly between foreign and domestic models, which were mostly pickups.
The 10 most likely vehicles to be stolen in 2013 were:

How and why Ford is rolling out Vignale in Europe

We know that Ford is positioning the new, upscale Vignale brand in Europe to fill a niche market of customers who want a bit more luxury, a lot more service and the same reliability and dependability that a non-Vignale Ford offers. But so far, we've been in the dark regarding how the Blue Oval will sell Vignale vehicles, how many of them will be created, and what the new sub-brand has in store for the future.
Gaetano Thorel, Ford's European marketing head, recently was interviewed by Automotive News and shared details about Ford Vignale. Thorel says, "The Vignale trim line will be priced like an ST model but attract a completely different type of customer." Specifically, he says it will attract customers in the upper 15 percent of the price band who don't want a performance-oriented ST model. He adds that Vignale cars will be about 10 percent more expensive than Titanium-trim cars. About 500 of Ford's European dealers will sell Vignale Fords, Thorel says, "in areas that make sense." The automaker expects 10 percent of its European sales to be Vignale cars, which equates to about 5 percent of its global sales. When asked if there are any other Vignale models planned beyond the Mondeo, Thorel said, "There is nothing written in stone yet."