1988 Ford F-150 63,000 Original Miles No Reserve 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.

Watch a Ford Bronco casually jump a McLaren 720S

Michael Cox can't stop jumping his classic Ford Bronco. He's jumped it on the beach. He's jumped it in the desert. He's jumped it at racetracks. Now he's jumped it in Hoonigan's backyard playground. Upping the ante on this one, he completed the jump while a modded McLaren 720S drifted underneath.  For those who don't know Michael Cox, he's a builder, racer, mad man extraordinaire who's worked with BMW and Porsche and specializes in off-road racing. Possibly more famous than the man is the vehicle he's known for driving, a custom-built Bronco that sports a cat-themed desert camo wrap.  Technically, this is not the first time Cox has visited Hoonigan and jumped his Bronco. But last time, the Bronco soared over nothing but tire crumbs and those tiny pebbles that get stuck in tread. This time, the stakes grew significantly, as a custom 720S drifted under the Bronco while it was in the air.  After a few donuts, Cox first tries a jump over a flatbed trailer. Once he easily clears that obstacle, Hoonigan brings the McLaren into the picture. Watch the video above to see a few crazy men show total disregard for the cost of a supercar.  This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

At meeting with automakers, Trump launches new attack on NAFTA

WASHINGTON — Ten American and foreign automakers went to the White House on Friday to push for a weakening of U.S. fuel efficiency standards through 2025, while President Donald Trump used the occasion to launch a fresh attack on the North American Free Trade Agreement that has benefited the companies. A draft proposal circulated by the U.S. Transportation Department would freeze fuel efficiency requirements at 2020 levels through 2026, rather than allowing them to increase as previously planned. Trump's administration is expected to formally unveil the proposal later this month or in June. "We're working on CAFE standards, environmental controls," Trump told reporters at the top of the meeting, referring to the Corporate Average Fuel Economy standards for cars and light trucks in the United States. Trump said he wants automakers to build more vehicles in the United States and export more vehicles. But much of the hour-long meeting focused on NAFTA. Trump blasted the pact involving the United States, Canada and Mexico as "terrible" and noted that negotiations to make changes sought by his administration were ongoing. "NAFTA has been a horrible, horrible disaster for this country and we'll see if we can make it reasonable," Trump said. Automakers have called NAFTA a success, allowing them to integrate production throughout North America and make production competitive with Asia and Europe, and have noted the increase in auto production over the past two decades with the deal in place. They have warned that changing NAFTA too much could prompt some companies to move production out of the United States. The chief executives of General Motors Co, Ford Motor Co, Fiat Chrysler, along with senior U.S. executives from Toyota Motor Corp, Volkswagen AG, Hyundai Motor Co, Nissan Motor Co, Honda Motor Co , BMW AG and Daimler AG met with Trump, as did the chief executives of two auto trade groups. Major automakers reiterated this week they do not support freezing fuel efficiency requirements but said they want new flexibility and rule changes to address lower gasoline prices and the shift in U.S. consumer preferences to bigger, less fuel-efficient vehicles.