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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.

Ford predicts it will finish 2013 as top-selling US brand

Ford is ready to call the ball on its 2013 sales totals, predicting a first-place finish for units sold in the US for a single brand. The company anticipates selling more than 2.4 million vehicles when all vehicle sales over the last 12 months have been tallied, repeating the victory it trumpeted over Toyota last year.
According to Ford's accounting, it sold 329,677 more vehicles than did Toyota in 2012. This year, the Blue Oval expects that margin to grow; through the end of November, Ford says it has outsold Toyota by 396,041 units.
Retail sales of Ford products are projected to exceed 1.7 million units for 2013 (the best retail result in 6 years for the company), with passenger cars accounting for 600k of that total. The redesigned Fusion is expected to crest the 290k mark, and the Fiesta is said to be ready to hit a model-record of 70k-plus. Meanwhile, utility vehicles and trucks are still paying a lot of bills in Dearborn, with the new Escape racking up an expected 300k sales and F-Series trucks chugging along at 688,810 units sold thru November.

Cadillac ELR, Nissan Resonance and Ford Atlas win Eyes on Design awards

This year's annual Eyes on Design awards were presented at the end of press days for the Detroit Auto Show on Tuesday. Given out for the best production and concept car designs that debuted at the show, and voted on by an esteemed panel of actual car designers, this year's award for best production vehicle design went to the 2014 Cadillac ELR. The 2014 Chevrolet Corvette, which was the show favorite among Autoblog editors, apparently did not impress the Eyes on Design judges enough with its all-new vent-festooned design.
The award for best concept design was actually split as a tie among the Nissan Resonance and Ford Atlas concepts. Last year's winners were the 2013 Ford Fusion and the Lexus LF-LC concept.
The Eyes on Design organization also presented a new honor this year called the Catalyst Award to Bob Lutz, former Vice Chairman of General Motors. Lutz is reported to have given a defense of design in his acceptance speech, arguing that advancements in quality across the industry as a whole have made good design a key differentiator for buyers.