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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.

Suzuki posts 46% drop in first-quarter profit on slowing India demand

TOKYO — Suzuki on Monday reported a 46.2% fall in first-quarter operating profit, hurt by lower output at home as it improves its inspection systems, and falling demand in India, its biggest market. Japan's fourth-largest automaker posted an operating profit of 62.7 billion yen (GBP487 million) for the April-June quarter, down from 116.5 billion yen a year earlier and below a mean forecast of 69.09 billion from eight analysts, according to Refinitiv. Suzuki reaffirmed its forecast for full-year operating profit to come in at 330 billion yen, up 1.7% from the year ended March 2019. Suzuki, known for its Swift and Baleno compact models, is bracing for subdued growth this year in India, where roughly one in two cars sold carries its brand. The company stuck to a forecast for vehicle sales to increase slightly on the year, but conceded that it may need to trim its forecasts in the coming months as slowing economic growth and stricter emissions standards could dent sales. Slowing profit growth could hamper its ability to invest in and develop lower-emissions vehicles and on-demand transportation services necessary to survive the technological upheaval currently underway in the global auto industry. The automaker has long acknowledged that it cannot shoulder the costs of developing electric vehicles and self-driving cars on its own, and has turned to Toyota to supply Suzuki vehicles with its gasoline hybrid systems.

Junkyard Gem: 1990 Suzuki Sidekick Convertible

When General Motors decided to create the Geo brand in 1989, for vehicles designed and/or built by Isuzu, Toyota, and Suzuki (strangely, the Daewoo-built LeMans kept its Pontiac badges even as the Corolla-based Chevy Nova became the Geo Prizm), the only Geo truck was the Tracker. The Tracker (later a Chevrolet) was really a Suzuki Escudo aka Vitara, and Suzuki decided to sell these trucks in North America with Sidekick badges. Here's one of those early Sidekicks, photographed in a Denver self-service yard with period-correct aftermarket wheels. The first-generation Tracker and Sidekick were sold here for the 1989 through 1998 model years, after which the Tracker name lived on for a few more years on the second-generation truck and Suzuki ditched the Sidekick name in favor of Vitara and Grand Vitara. Suzuki kept selling Grand Vitaras here until the very end (which came in 2013). This is the first Sidekick I've documented in the Junkyard Gems series, because they never sold as well as their Tracker siblings and have become quite rare. Power came from this 1.6-liter G16 engine, a bored-and-stroked version of the engines used in such machines as the Suzuki Samurai and (four-cylinder) Geo Metro. Carburetors were nearly extinct on new vehicles in the United States by 1990, but you could still buy a few throwbacks that didn't have EFI. Might as well brag a bit with a badge like this one! You could get the '90 Sidekick with a five-speed manual or a three-speed automatic, with your choice of rear-wheel drive or four-wheel drive. This one has the five-speed and 4WD. American Sidekick shoppers had their choice of a two-door hardtop or convertible version; this one is the convertible. It's equipped with exquisitely 1990s spoked wheels, complete with the stretched narrow-tire treatment. The brightly-painted interior trim pieces suggest more of a mid-2000s influence. Just over 150,000 total miles on the odometer. Leaf springs? No, the Sidekick got modern coils. In the Sidekick's homeland, the TV commercials went for a North African look. Related video: