1993 Ford Mustang Gt on 2040-cars

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DoJ fines Japanese parts firms $740M in massive automotive price-fixing scandal

Nine Japanese suppliers have pleaded guilty in US court over charges of price fixing in the automotive parts industry, resulting in the Department of Justice doling out a total of $740 million of fines, according to a report from Bloomberg. The scandal, which has resulted in General Motors, Ford, Toyota and Chrysler spending up to $5 billion on inflated parts and driving up prices on 25 million vehicles has sent the DoJ hustling into investigations. "The conduct this investigation uncovered involved more than a dozen separate conspiracies aimed at the U.S. economy," Attorney General Eric Holder (pictured above) said during yesterday's press conference.
As the investigation stands, the DoJ has issued $1.6 billion in fines against 20 companies and 21 individual executives, with 17 of the execs headed to prison. Deputy Assistant Attorney General Scott Hammond said, "The breadth of the conspiracies brought to light today are as egregious as they are pervasive. They involve more than a dozen separate conspiracies operating independently but all sharing in common that they targeted US automotive manufacturers."
Big-name suppliers indicted in the investigation include Mitsubishi Electric, Mitsubishi Heavy Industries, Hitachi Automotive and Mitsuba Corporation. A list of fines and other corporations named in the investigation is available at Bloomberg.

Crushing 1984 Ford Ranger to make a point about clean cars

Being a professional politician is often about more than just getting legislation passed, and a little showmanship can go a long way towards getting a point across. California State Senate leader Kevin de Leon recently staged just such a flashy stunt when he crushed a 1984 Ford Ranger at a rally kicking off an EV incentives pilot program. De Leon sponsored a bill last year that, in part, tried to give greater support to low-income buyers who wanted to trade in their old clunker for a zero-emissions vehicle. He hoped to improve the state's Clean Vehicle Rebate Project, which has been accused of especially helping the wealthy. After watching their Ranger get destroyed at this event, the Mendoza family that owned the truck drove away in a 2013 Toyota Prius, according to the Sacramento Business Journal. Under the pilot program, buyers in two air districts in the Golden State can take advantage of these incentives. Depending on their income and the vehicle they are purchasing, people can get a rebate of between $1,500 and $9,500, according to the Sacramento Business Journal. For now, the California Air Resources Board has set aside $5 million from the state's cap-and-trade program to fund things in these areas. Later, it will vote whether to adopt the initiative statewide. Not to be outdone, Arnold Schwarzenegger has thrown his prodigious muscle behind this program, and he put out an even more explosive video showing how to get rid of these old vehicles. You can watch a clip of the Ranger's destruction from the Sacramento Business Journal above and the Governator's response, below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. News Source: Sacramento Business Journal, Arnold Schwarzenegger via YouTube Government/Legal Green Ford Toyota Car Buying Green Culture Electric Hybrid Videos California cvrp kevin de leon

Hennessey unleashes 2015 HPE700 supercharged Ford Mustang

Thanks to the 2015 Dodge Challenger SRT Hellcat there is a new magic number in the muscle car world - 707. To raise eyebrows these days in the power war, a vehicle needs to match or preferably exceed that palindromic figure. The tuners over at Hennessey took a look at it for their 2015 HPE700 Mustang and decided to go one better. Well, ten actually, because they bestowed their latest creation with 717 horsepower and 632 pound-feet of torque.
The HPE 700 Mustang takes the standard Mustang GT with its 5.0-liter V8 and turns up the power a few hundred notches with a Roots-type supercharger running at 7.25 psi. Hennessey claims that this boosted 'Stang can rocket to 60 miles per hour in about 3.6 seconds and cover the quarter-mile in 11.2 seconds at 131 mph. For those keeping score at home, those figures are very similar to Challenger Hellcat.
To cope with all of the added boost, the engine gets a high-flow throttle body, upgraded injectors, new fuel pump, stainless steel exhaust and Hennessey's calibration for the engine management. Pricing for the package is $59,500, including the base 2015 Mustang GT, but the company is limiting production to 500 units for the 2015 model year. Founder John Hennessey told Autoblog that he has already received about a dozen orders for them.