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Japanese spark plug giant NGK pleads guilty to price fixing, to pay $52M fine

The ongoing investigation by the Department of Justice into price fixing in the automotive industry has nabbed one more company breaking the law. Japanese parts giant NGK Spark Plug Company agreed to plead guilty to a felony count of pricing fixing and bid rigging in the in the US District Court in Detroit. Its punishment is a $52.1 million criminal fine and to continue to cooperate with the DOJ's sleuthing into the problem.
According to the DOJ, NGK conspired to fix prices on spark plugs, standard oxygen sensors, and air fuel ratio sensors on vehicles from major automakers in the US, including the former DaimlerChrysler, Honda and Toyota, in a scheme that ran from at least January 2000 to July 2011. The charge claimed that the company and its co-conspirators held meetings where they agreed on bids and price quotes that were submitted to the automakers.
With the latest plea, the DOJ has caught 28 companies and 26 executives for price-fixing and bid rigging in the auto parts industry, and they have collected $2.4 billion in criminal fines. In 2013, the feds brought nine Japanese suppliers down at once, to collect $740 million. Scroll down to read the DOJ's complete announcement of the case.

How new car shortages may impact your buying experience

If you want further proof that the auto industry is bouncing back, look no further than the empty lots and forecourts of your local dealership. According to a story by The Wall Street Journal, continued high demand for mainstream cars is overtaxing automakers' ability to produce enough models. Several dealers interviewed for the story are reporting two-week supplies as opposed to the typical two-month allocations.
With sales expected to hit 1.4 million units when August numbers arrive shortly and incentive spending down to its lowest amount since January, these limited supplies are pushing prices even higher. For example, according to the WSJ, the average price of a Ford Fusion is up past $26,000. Unfortunately, it's difficult for manufacturers to increase production quickly. If it invests in its facilities, as many manufacturers have done, it risks wasting cash if growth suddenly slows. At the same time, the momentum gained over the past several years could be short lived if vehicle supplies continue to dwindle. "Manufacturers are in a precarious situation," notes Karl Brauer, a senior director at Kelley Blue Book.
Low interest rates and a wealth of desirable features are also allowing customers to purchase more expensive vehicles while justifying their higher overall price tags, a situation that is compounding supply shortages. Even now, during the annual end-of-summer clearance season, deals on new vehicles are remarkably difficult to come by. According to the report, the Toyota Corolla is in a self-inflicted state of shortage, as Toyota clears out inventory in anticipation of the new 2014 generation arriving in dealers. Ford's supplies should rebound as Fusion production comes on line at its Flat Rock, Michigan factory. The Chevrolet Impala, Honda Odyssey, Civic, and Accord and Subaru Forester are also facing shortages.

Acura reveals performance EV concept called Performance EV Concept

After teasing a new EV concept for Monterey, Acura made good on its promise Thursday with the unveiling of its rather plainly named Performance EV Concept. Good news: Acura's first in-house EV will be a performance car. Bad news: It's not the one we all hoped it would be. Instead, we're getting another model in the grand tradition of the ZDX — pronounced front end and all. It seems that look is here to stay, so get used to it, because Acura says it plans to build a production model based on this concept starting in late 2025.  That's noteworthy not just because this is Acura's first in-house EV, but because it'll be the first production car to ride on any variant of Honda's new BEV architecture. The mainstream brand is planning to put something based on its 0 Series "Saloon" concept into production in 2026. That's quite the coup (no "e") for Acura, which spent most of the past two years talking about the Ultium-based ZDX project, which by all accounts will be the first and last Acura-badged product of Honda's tie-up with General Motors and its Ultium EV platform.  As you can probably surmise, Acura remains tight-lipped about specifics. Honda (and by extension, Acura) "concept" vehicles have a funny habit of being put into production almost exactly as they sit, so what you see here is likely pretty close to the mystery CUV's final physical form, but battery and motor specs remain nebulous for the time being. We expect a multi-motor setup engineered to mimic the behavior of the SH-AWD system Acura offers in its ICE vehicles. The concept's massive 23-inch wheels encircle a set of four-piston calipers and crossed-drilled rotors — the two most significant hints that we're looking at something meant to move quickly.  If you're in Northern California for Car Week, you can check out Acura's concept at The Quail. The company's presentation is scheduled for 10:36 a.m. local time (What is this, a train schedule?) on Friday.