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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 and Honda set all-time single-month U.S. sales records in August

While the U.S. and Japan continue to hash out the details for a new trade deal, American customers showed just how much they love Japanese automobiles. Both Honda America and Subaru of America exceeded expectations in August and set all-time sales records for units moved in a single month. The booming business was led, in part, by the Honda CR-V and Subaru Crosstrek, both of which posted their best sales months ever.  For Subaru, August 2019 marked the best sales month in company history and a claimed 93 straight months of yearly, month-over-month growth. Subaru sold 70,039 vehicles, which beats the December 2018 record of 64,541 vehicles. Top sellers were the Outback (17,110), the Forester (17,076), and the Crosstrek (15,860). The Ascent notably saw a 72.8 percent increase in sales compared to August 2018 with 7,319 sold.  Honda America, which includes Honda and Acura, sold 173,993 total vehicles, 158,804 of which were Hondas. That's up from 147,903 total sales in August 2018. Honda achieved these numbers with strong sales across its lineup, despite the less consumer interest in sedans in general. In August 2019, Honda sold 44,235 CR-Vs (the most ever in a single month) 14,381 Pilots, 10,190 Odysseys, 34,808 Civics, and 30,558 Accords. Acura's SUVs continue to be the company's best-sellers with 5,976 MDXs sold and 5,459 RDXs moved.  By the Numbers Earnings/Financials Honda Subaru Car Buying Crossover Sedan sales subaru crosstrek

Honda HR-V could spawn Acura variant

We've been saying it for months now, but the compact CUV is the next big thing. Everyone, and we mean everyone, is at least considering getting in on the action, if they aren't already actively designing or selling, and that's true whether they're a premium or mainstream automaker. That, of course, includes Acura, whose parent company, Honda, has a compact CUV of its own coming to market very, very soon. With the arrival of the Fit-based HR-V, that begs the question of whether the near-premium marque will join this burgeoning segment. The idea of building a car below the company's entry level CUV, the RDX, is an appealing one to Honda Executive Vice President John Mendel, who called it "potentially the only place you could go," and would occupy the "white space" the company is looking to fill. While we might chuckle about the idea of a luxurious, Fit-based CUV, it's fair to say it could do well for Acura. It could certainly provide a foil to the very hot selling Buick Encore, and may even capture some sales from the luxuriously outfitted Jeep Renegade Limited/Fiat 500X Lounge. It remains to be seen, though, if Acura could build an HR-V capable of tangling with the new entries from Lexus, Audi and Mercedes-Benz.