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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.

2014 Ford Cobra Jet announced with new colors, parachute mount

Ford's drag-strip-ready Mustang Cobra Jet is back for 2014, and it's sporting a few changes to make it even better - both in competition and while sitting still. Rolling off the assembly line ready for duty in the NHRA Stock or Super Stock classes, production of the 2014 Cobra Jet is limited to just 50 units.
Racing upgrades for 2014 include the addition of a new three-speed transmission and a parachute mount, and while these will make the car better in the quarter mile, the Cobra Jet's new colors will make it look better tearing down the track. Buyers can now get their racecars painted up in Gotta Have-It Green or a custom, Cobra Jet-exclusive matte black hue. Ford and Ford Racing have already teamed up to make this an incredible factory drag racer with a full rollcage, massive Hoosier slicks, a race-tuned suspension setup and a supercharged 5.0-liter V8. Now, if only wheelie bars came standard...
Unlike the confusing third-party ordering system announced for the COPO Camaro, all you need to snatch up a 2014 Cobra Jet is $97,990 and good timing (as the cars will be sold on a first-come, first-served basis). Ordering opens up next month with production commencing in July. Check out the press release below.

V8-powered 2022 Ford F-150 Raptor R spied testing alongside Ram TRX

Spy photographers captured Ford engineers testing what appears to be a 2022 F-150 Raptor R alongside a Ram TRX this week, giving us a sneak preview of the first major battle in the coming war for super-pickup dominance.  Ford has remained tight-lipped about the Raptor R's performance specs. We know only that it will be powered by a V8 (likely a variant of the 760-horsepower, supercharged 5.2-liter unit from the Ford Mustang Shelby GT500), and that it's due to break cover some time later this year. Given that the 702-horsepower Ram TRX will be the Raptor R's only competition (and pretty much the only reason it exists in the first place), Ford's decision to benchmark the fast Ram is a bit of a no-brainer.  The Blue Oval's performance engineers have years of practice when it comes to building high-performance off-road trucks, so despite Ram's first-strike advantage and Hellcat trump card, the TRX might actually be the underdog in this fight. Why? Well, based on what we've seen of the EcoBoost-powered 2021 Raptor so far, it should weigh at least 500-600 pounds less than the TRX, and while we expect that gap to shrink with the addition of the bigger engine, it's likely that it will still favor Ford, and perhaps significantly.  While the larger, supercharged V8 will certainly weigh more than the EcoBoost V6, it's still an all-aluminum engine (all SRT motors are based on cast-iron blocks) and Ford still has the advantage of its lightweight body panels. There will likely be more to the Raptor R's chassis modifications than a new set of engine mounting points, since the existing Raptor was not engineered to handle an 800-horsepower engine, but even with the chassis modifications necessary to handle that power, we expect the Raptor R to be the featherweight of the two.  Since Ford plans to get the Raptor R into production for the 2022 model year, we shouldn't have to wait much longer to find out just exactly how it shapes up against Ram's big dinosaur. Stay tuned. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.