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Kayaba, Sumitomo to pay millions for price-fixing in US

Kayaba Industry Co, which does business in the US as suspension parts maker KYB, and Sumitomo Electric Industries are facing payments in the millions to settle price-fixing cases about the components that they make. As part of the Department of Justice's ongoing crackdown of price fixing in the auto industry, KYB agreed to pay $62 million and pleaded guilty to conspiracy to set the cost of shock absorbers from the mid '90s through 2012. The company allegedly worked with co-conspirators to keep the cost of the parts high, and those components then made it into vehicles from Honda, Kawasaki, Nissan, Subaru, Suzuki, and Toyota. "Any collusive agreement among competitors to restrict price competition undercuts our free enterprise system and violates the law," said Carter M. Stewart, US Attorney of the Southern District of Ohio, in the DoJ's announcement. Over the past few years, the DoJ has brought cases against 37 parts suppliers and 55 executives, leading to over $2.6 billion in fines. The investigations haven't always been so successful – some of the Japanese execs fled from the US to avoid prosecution. Critics allege that price fixing is simply how business is done. According to Automotive News, Sumitomo Electric Industries is also facing a $50 million settlement in a civil lawsuit that's related to price fixing of parts like wiring harnesses and heater control panels. The plaintiffs include owners and dealers that purchased vehicles with these parts. The company asserts that the violations are from before 2010, and it now has different process in place to avoid further violations. KYB Agrees to Plead Guilty and Pay $62 Million Criminal Fine for Fixing Price of Shock Absorbers Kayaba Industry Co. Ltd., dba KYB Corporation (KYB) has agreed to plead guilty and to pay a $62 million criminal fine for its role in a conspiracy to fix the price of shock absorbers installed in cars and motorcycles sold to U.S. consumers. According to charges filed today, KYB conspired from the mid-1990s until 2012 to fix the prices of shock absorbers sold to Fuji Heavy Industries Ltd. (manufacturer of Subaru vehicles), Honda Motor Co. Ltd., Kawasaki Heavy Industries Ltd., Nissan Motor Company Ltd., Suzuki Motor Corporation and Toyota Motor Company, including their subsidiaries in the United States.

Honda Fit EV lease drops to $199 a month, but there's a catch

The Honda Fit EV just became a much better deal. When it first launched, Honda offered the car (in California and Oregon only) in 2012, the monthly price was $399. In 2013, the official lease price dropped to $259. Today, Honda announced that the fun little runabout will cost you just $199. The catch? For new customers, this price is only good on used Fit EVs. You can also take advantage of this deal If you're a current Fit EV lessee by extending your time with your car by two years for the new, lower $199-a-month price. The other limitations of the Fit EV lease – the fact that there's no purchase option at the end of the lease and that the car itself is still only available in "designated market regions" – remain, which means that getting this particular electric car is a better deal than it used to be, but it's still not a good Fit for everyone. Related Video: Honda Introduces New Lease Options for Existing and Prospective Fit EV Lessees Mar 23, 2015 - TORRANCE, Calif. Two-year Fit EV lease extension offered to existing lessees New, two-year used Fit EV lease offered to prospective customers Price reduced to $199 a month; no down payment and unlimited mileage, routine maintenance and collision coverage included Honda is extending the reach of its efficient and fun-to-drive all-electric Fit EV (http://automobiles.honda.com/fit-ev/) through new lease programs for both existing and prospective Fit EV customers. For current, eligible Fit EV customers, Honda is offering a two-year lease extension that includes a lower $199 monthly payment1 (previously $259) and extends the unlimited mileage, routine maintenance and collision coverage1 that were included in the original lease. The reduced lease price and matching two-year terms1 will also be available to new customers interested in driving a used Honda Fit EV. Honda shared the news to a group of Fit EV drivers at an event hosted at the Honda Smart Home US (http://www.hondasmarthome.com/) in Davis, CA on Saturday, March 21. "Most Fit EV drivers tell us they love their vehicles, and many have requested lease extensions and this extended lease program is intended to meet their needs," said Steve Center, vice president of the Environmental Business Development Office, American Honda Motor Co., Inc.

Honda CEO carless, waiting on Civic Type R

As chief executive of Honda, Takahiro Hachigo could get his hands on anything the automaker produces, or has produced: a new Acura RLX luxury sedan, a luxed-out Odyssey minivan, a top-of-the-line CBR sport bike... even an old NSX supercar. Heck, he could probably even get the skunkworks to cook him up a road-going version of the ten-cylinder HSV-010 that was supposed to be the new NSX but only ever ended up racing in Super GT. So what does he drive? "Unfortunately, I don't have a car now," Hachigo-san revealed to journalists during a roundtable discussion in Tokyo. That situation won't last forever, though: "There is a model I want, which will, as I have told you, be launched this autumn," said Hachigo. "I want to buy the Civic Type R." The Honda chief is referring, of course, to the company's new hot hatch that will be produced in the UK and exported around the world, including back to Japan. It's got a 2.0-liter turbo four pumping out 306 horsepower to send it to 60 in 5.7 seconds, making it one of the fastest and most powerful hatchbacks ever devised. And more than anything else the company makes, that's what Hachigo wants for himself. The news should be welcomed by performance enthusiasts who may have been concerned about the future of Honda's performance models. The company has a slew of them coming out, including the new NSX and Civic Type R, and may even produce another sports car to slot in between. Those, however, were spearheaded under the administration of Hachigo's predecessor, Takanobu Ito. But if Hachigo's stated driving preferences are anything to go by, he's got some high octane pumping through his veins as well. Until the Civic Type R starts arriving in Japan, though, Hachigo's garage will have an empty space in it, filled only by his wife's N-One kei car and his own VTR 250 motorcycle. We're sure his chauffeur has him well taken care of, though, in the back of an RLX or whatever else the company sends to pick up its new chief executive. Related Video: