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New Ford GT to carry $400k-price tag

The last time Ford made a GT, it built more than 4,000 of them and sold each one for around $150,000. Judging by the premiums at which they later traded, they were evidently worth a lot more than that. But this time, the new Ford GT will be far more expensive and far more scarce. Official performance, production and pricing figures have yet to be released, but upon the new American supercar's European debut in Geneva, Ford performance chief Dave Pericak indicated it would be priced competitively with the Lamborghini Aventador – which carries a base sticker price approaching $400,000, Car and Driver reported. Combine that with production expected to number in the hundreds, not the thousands, and you're not likely to be seeing any of these Blue Oval halo cars in your neighborhood anytime soon. The question then becomes: will the price tag will be justified? With carbon-fiber construction and more than 600 horsepower on tap, it very well could be. And if speculators are going to drive up the actual sale prices, we don't see why Ford shouldn't get what the product is worth. But whether the world is ready for a $400,0000-Ford is another question entirely. Related Video:

FCA to skip summer shutdowns as automakers rev up U.S. assembly lines

DETROIT — Several of FCA's facilities will skip their usual summer shutdowns to get a jump on rebuilding inventory, the company confirmed early Wednesday.  The plants that will remain open include three in the United States (Jefferson North in Detroit, Toledo Assembly in Ohio, and Sterling Heights Assembly in suburban Detroit), one in Canada (Brampton Assembly in Ontario) and two in Mexico (Saltillo Truck Assembly and Saltillo Van Assembly).  This will allow dealers to address depleted inventory of popular trucks and muscle cars, Automotive News reports. Other facilities not named will observe their normal one- and two-week breaks.  Automakers are speeding up U.S. assembly lines to meet recovering demand, increasingly confident coronavirus safety protocols are working to prevent outbreaks in their plants but wary of the challenges workers face outside. Screening workers for COVID-19 using temperature scans and questionnaires, the automakers have detected some people who reported for work despite being sick. Some plants have been briefly shut down for disinfection, but so far, there has not been a major outbreak within a U.S. auto plant since most reopened May 18, company and United Auto Workers union officials said. The risk of an infection picked up outside a plant spreading along assembly lines remains a prime concern, however. An outbreak could shut down a factory costing a manufacturer millions of dollars a day. The disruption caused by the pandemic is creating other challenges as well. At Ford Motor Co's F-series pickup truck plant in Louisville, Kentucky, the company has given more than 1,000 workers leave related to COVID-19 concerns. It hired temporary workers to fill their jobs as the plant accelerates production of trucks critical to Ford's financial recovery. Demand for pickup trucks helped boost U.S. auto sales in May, and contributed to stronger than expected overall U.S. retail sales for the month. Officials of UAW Local 862, which represents workers at the Louisville plant, said a lack of child care was a significant issue for members. It had led many to stay away from the plant and collect increased unemployment benefits provided under the federal CARES coronavirus relief act. Ford has now begun arranging subsidized child care for UAW workers, Gary Johnson, the automaker's head of manufacturing told Reuters.

Bosch fined $57.8 million by DOJ for price fixing and bid rigging

The US Department of Justice has been investigating bid rigging and price fixing among automotive parts suppliers for years, and so far the agency has leveled nearly $2.5 billion in fines against 34 companies. The latest business to be caught in this ongoing crackdown is Germany's Robert Bosch GmbH (Bosch), the world's largest independent auto component maker, and it agrees to pay a $57.8 million criminal fine to the Feds. According to the DOJ, Bosch has agreed to plead guilty to pricing fixing and bid rigging for spark plugs and oxygen sensors supplied to the former DaimlerChrysler, Ford and General Motors. The rigging is said to have occurred between January 2000 and July 2011. Bosch also allegedly played foul with starter motors sold to Volkswagen from January 2009 until at least June 2010. Bosch and other companies allegedly conspired on the pricing for bids to submit to automakers, and sold the parts at noncompetitive prices. The DOJ filed a one-count felony charge in US District Court for these actions. The company's plea is still subject to court approval, though. Bosch is only the third European company to be charged in this investigation, according to the DOJ. So far, many of the fined businesses have been from Japan, including Takata, NGK and others. Some execs have claimed price-fixing has been the standard operating procedure in the auto parts industry for a long time. Robert Bosch GmbH Agrees to Plead Guilty to Price Fixing and Bid Rigging on Automobile Parts Installed in U.S. Cars Robert Bosch GmbH, the world's largest independent parts supplier to the automotive industry, based in Gerlingen, Germany, has agreed to plead guilty and to pay a $57.8 million criminal fine for its role in a conspiracy to fix prices and rig bids for spark plugs, oxygen sensors and starter motors sold to automobile and internal combustion engine manufacturers in the United States and elsewhere, the Department of Justice announced today. According to the one-count felony charge filed today in the U.S. District Court of the Eastern District of Michigan, Bosch conspired to allocate the supply of, rig bids for, and to fix, stabilize and maintain the prices of, spark plugs and oxygen sensors sold to automobile and internal combustion engine manufacturers such as DaimlerChrysler AG, Ford Motor Company, General Motors Company and Andreas Stihl AG & Co., among others, in the United States and elsewhere.