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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.

Subaru boosting US capacity thanks to strong sales

It is very, very good to be Subaru right now. The company is rolling, with its global operating profits increasing 21 percent last quarter. While part of that is due to favorable currency conditions, the simple fact is that Subaru is selling a hell of a lot of cars, particularly in North America. The company's North American branch is expected to hit its sales goal of 600,000 units per year five years ahead of schedule, after moving 570,000 units in the recently completed fiscal year (remember, the Japanese fiscal year runs from April 1 to March 31). Last quarter alone, Subaru NA saw a 12 percent increase in sales, significantly more than either the company's home market or the increasingly vital Chinese market, where sales declined by one and 14 percent, respectively. With such promising results, it's no surprise that Fuji Heavy Industries President Yasuyuki Yoshinaga announced plans to bump up production at the company's Indiana factory. Yoshinaga-san is pushing for annual capacity of 394,000 units by the end of calendar year 2016, Automotive News reports, adding that inventory levels in the US are too low. "If only we had more cars, we could be selling more," Yoshinaga told AN during a news conference. FHI's previous plans for the factory were much less aggressive. Originally, production would be expanded to 328,000 units by 2017, AN reports, with an eye towards a full 400,000 units per year by 2021. With 394,000 rolling out of the Lafayette, IN factory by next year, though, it's clear how keen Subaru is to take advantage of such strong demand. News Source: Automotive News - sub. req.Image Credit: Dave Umberger / Associated Press Earnings/Financials Subaru sales fuji heavy industries

Subaru breaks all-time sales record well before year end

In case you needed a reminder, Subaru is hot. The Japanese all-wheel-drive specialist is doing so well that it broke its 12-month sales record in just 11 months. That's great, but even more impressive is that this is the company's seventh successive record-breaking year and its eighth year of overall growth. Through November, the bulk of Subaru's sales came from its strong crossover lineup – the Forester, Outback, and XV Crosstrek accounted for 350,000 of the company's 513,000-plus sales. As for the Impreza, Legacy, and high-performance WRX/STI, there were also "significant year-to-date increases," according the company's official release. You can expect a full report on not only Subaru's November and year-to-date numbers, but the entire industry's sales figures, in our latest installment of By The Numbers. Stay tuned. Related Video: SUBARU OF AMERICA BREAKS ALL-TIME SALES RECORD AHEAD OF NOVEMBER SALES REPORTING Cherry Hill, N.J. - Subaru of America, Inc. has reported it has broken its previous yearly sales record with a month of the year still remaining. Sales for 2015 have now surpassed the previous annual sales record of 513,693 vehicles set in 2014 and mark the company's eighth year of sales growth and seventh successive sales record. Sales in 2015 have been driven by the Forester, Outback and Crosstrek carlines. Combined, the three crossover vehicles now retail over 350,000 units per year. Subaru sedans; Legacy, Impreza and WRX/STI, have also seen significant year-to-date increases. Thomas J. Doll, president and chief operating officer, Subaru of America, Inc. said; "We are delighted to be celebrating yet another record. Our continued growth is built on strong products and outstanding retailers providing a great customer experience. We thank all of our retailers for their continued commitment in making these record-breaking sales possible. Given consumer demand for our products, we expect a strong close of 2015." Full month and year-to-date sales figures for November 2015 will be released on December 1. About Subaru of America, Inc. Subaru of America, Inc. is a wholly owned subsidiary of Fuji Heavy Industries Ltd. of Japan. Headquartered at a zero-landfill office in Cherry Hill, N.J., the company markets and distributes Subaru vehicles, parts and accessories through a network of more than 620 retailers across the United States. All Subaru products are manufactured in zero-landfill production plants and Subaru of Indiana Automotive Inc.