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Bosch fined $57.8 million by DOJ for price fixing and bid rigging

The US Department of Justice has been investigating bid rigging and price fixing among automotive parts suppliers for years, and so far the agency has leveled nearly $2.5 billion in fines against 34 companies. The latest business to be caught in this ongoing crackdown is Germany's Robert Bosch GmbH (Bosch), the world's largest independent auto component maker, and it agrees to pay a $57.8 million criminal fine to the Feds. According to the DOJ, Bosch has agreed to plead guilty to pricing fixing and bid rigging for spark plugs and oxygen sensors supplied to the former DaimlerChrysler, Ford and General Motors. The rigging is said to have occurred between January 2000 and July 2011. Bosch also allegedly played foul with starter motors sold to Volkswagen from January 2009 until at least June 2010. Bosch and other companies allegedly conspired on the pricing for bids to submit to automakers, and sold the parts at noncompetitive prices. The DOJ filed a one-count felony charge in US District Court for these actions. The company's plea is still subject to court approval, though. Bosch is only the third European company to be charged in this investigation, according to the DOJ. So far, many of the fined businesses have been from Japan, including Takata, NGK and others. Some execs have claimed price-fixing has been the standard operating procedure in the auto parts industry for a long time. Robert Bosch GmbH Agrees to Plead Guilty to Price Fixing and Bid Rigging on Automobile Parts Installed in U.S. Cars Robert Bosch GmbH, the world's largest independent parts supplier to the automotive industry, based in Gerlingen, Germany, has agreed to plead guilty and to pay a $57.8 million criminal fine for its role in a conspiracy to fix prices and rig bids for spark plugs, oxygen sensors and starter motors sold to automobile and internal combustion engine manufacturers in the United States and elsewhere, the Department of Justice announced today. According to the one-count felony charge filed today in the U.S. District Court of the Eastern District of Michigan, Bosch conspired to allocate the supply of, rig bids for, and to fix, stabilize and maintain the prices of, spark plugs and oxygen sensors sold to automobile and internal combustion engine manufacturers such as DaimlerChrysler AG, Ford Motor Company, General Motors Company and Andreas Stihl AG & Co., among others, in the United States and elsewhere.

2020 Chrysler Pacifica Red S Edition demands plenty of green

Chrysler has added a Red S Edition package to the Pacifica range for the 2020 model year. The equipment group is available on the gasoline-powered and hybrid variants of the minivan, and the package punts Chrysler's family-hauler into luxury-car territory. On sale now, the Pacifica Red S Edition commands a $3,995 premium over the Limited trim it's based on. In other words, buyers need to spend at least $49,935 once a mandatory $1,495 destination charge enters the equation, while selecting the hybrid powertrain likely pushes the bottom line beyond the $50,000 threshold (the package has not yet been priced for the hybrid model). This figure makes the Pacifica Red S Edition one of the most expensive minivans available in the United States. Chrysler rewards buyers willing to spend luxury-car money on one of its minivans with two-tone, Rodeo Red and black Nappa leather upholstery with Light Diesel Grey contrast stitching and piping (diesel fuel is not grey, if you're wondering), S logos stitched into the seat backs, and silver trim on the dashboard and the door panels. Outside, the Red S Edition builds on the S Appearance package with black and red emblems, a red S logo on the tailgate, and 20-inch alloy wheels finished in black, though note the Pacifica Hybrid settles for 18-inchers in the name of maximizing fuel economy. Buyers have six colors to choose from, including one called Ceramic Grey Clear Coat that joins the range for 2020. The Red S-spec Pacifica also comes standard with a Harman Kardon sound system that plays through 20 speakers, KeySense (which is essentially a teen driver key), and Advanced SafetyTec, which includes features such as a 360-degree-view camera, adaptive cruise control with stop and go, automatic high beams, park assist, and rain-sensing wipers, among other items. There are no mechanical changes to report, nor does the Pacifica Red S channel its inner Testarossa with a red valve cover. It carries on with Chrysler's venerable 3.6-liter Pentastar V6 rated at a stout 287 horsepower and 262 pound-feet of torque. The six spins the front wheels via a nine-speed automatic transmission.

Chrysler names six new board directors

Executives may call the shots day-to-day at the world's leading automakers - much as they do at any other corporation - but the ultimate decision-making body remains the board of directors. And Chrysler has just named six new members to its board.
The appointments include Hermann Waldemer, the former CFO of Philip Morris International - the tobacco giant whose Marlboro brand has funneled untold billions into Ferrari as the Scuderia's title sponsor for decades, and on whose board Fiat-Chrysler CEO Sergio Marchionne sits. Waldemer replaces Doug Steenland, who came to the Chrysler board after Northwest Airlines (at which he served as CEO) merged with Delta, and whose term on the board expired just days ago.
In addition to the Waldemer appointment, Chrysler has expanded its board with five more seats, all filled by existing group executives. Among them are Reid Bigland (head of US and Canadian sales and of the Ram truck brand), Fiat general counsel Giorgio Fossati, human resources director Michael J. Keegan, Jeep CEO Michael Manley, and group CFO Richard Palmer.