1995 Ford Bronco Xlt Sport Utility 2-door 5.8l Showroom Condition! 45,000 Miles on 2040-cars

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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.

Question of the Day: Most degraded car name?

When Ford came up with a not-so-sporty version of the Pinto and slapped Mustang badges on it in 1974, that was a low point for the Mustang name. When Chrysler applied the venerable Town & Country name on perfectly functional but unglamorous minivans, it saddened many of us. But perhaps the biggest demotion for a once-proud model came when, in 1988, General Motors imported a misery-enhancing Daewoo from Korea and called it the Pontiac LeMans. The original Pontiac LeMans was a great-looking midsize car with fairly advanced (for the time) suspension design and engine options including potent V8s and a screaming overhead-cam straight-six. The Daewoo-based Pontiac LeMans was a cramped, shoddy hooptie that served only to ruin the LeMans name forever, while stealing sales from the Suzuki-based Chevrolet Sprint. Sure, using the once-respected Monterey name on the Mercurized Ford Freestar was bad, but Mercury didn't have long to live at that point. I say the downward spiral of the LeMans name was the most agonizing in automotive history. What do you think? Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Auto News Ford Mercury Pontiac Automotive History Classics questions ford pinto names

Ford flips switch on GT350, GT350R configurators

Today is the day, folks. If you've been eagerly awaiting the opportunity to configure your ideal Shelby GT350 Mustang, you need to get over to the Ford consumer page and check out the new online builder tool. You can design your ideal GT350 or go hardcore and build an R model. It's all there, including exterior colors, stripe options, and the limited array of optional packages. Everything has prices, with the GT350's starting price coming in just a smidge above what we reported in late May. The base model kicks off at $48,695 while the R adds $13,500 to the total. That means both versions of the Shelby significantly undercut more mainstream and more hardcore competitors. For example, you can get into a GT350R for $62,195, or $3,000 less than a completely basic BMW M4 and $12,805 less than a Chevrolet Camaro Z/28. In fact, even a fully loaded GT350R, with stripes, a painted roof, and the $3,000 Electronics Package (Sync 3, dual-zone climate control, rear-view camera, a seven-speaker stereo, and SiriusXM satellite radio) and you'll still come in at over $8,600 less than the Z/28. As for the GT350, its $48,695 starting price should give pause to anyone thinking of purchasing a high-priced Germans while also stealing some Camaro 1LE customers. Head over to Ford's configurator and build up your ideal car. Finding the GT350 is a bit tough at first, so just be sure to scroll to the bottom of the body style menu on the left side of the page and select "Shelby Fastback," then have at it. Related Video: