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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.

Mitsubishi teases 2016 Outlander ahead of New York debut

Mitsubishi really disappointed lots of people at the 2015 Chicago Auto Show when it initially teased "The Return of a Legend." That over-hyped unveiling was really just the North American debut of the GC-PHEV, first shown at the 2013 Tokyo Motor Show. The Japanese automaker is getting a second chance to impress with its hook to "Come See the New Face of Mitsubishi Motors" at the New York Auto Show on April 2. Maybe the company can do a little bit better this time, even if the surprise is already spoiled. Mitsubishi announced that it would unveil the refreshed 2016 Outlander in the Big Apple a month ago in Chicago. It's almost certainly the vehicle on display on the brand's invitation, above. While the single shot shows off a design very reminiscent of the current model, earlier spy shots indicate changes are in store for both the front fascia and much of the rear end. A look in the vein of the Outlander PHEV Concept-S from the 2014 Paris Motor Show seems likely. The restyling is also rumored to be timed with the plug-in hybrid version's US debut. However, after that vehicle's multiple delays, it might be best to wait and see.

Mitsubishi to offer new Galant, Montero in US?

We admit it - we've been skeptical about Mitsubishi's fortunes here in the US for a long time now, and this month's reveal of the 2014 Mirage subcompact at the New York Auto Show didn't do much to quell our consternation. Yes, the Mirage should attract a certain portion of the buying population based on what will likely be the best fuel economy figures in its segment and a low price, but the profitability of basic small cars is limited even under the best of circumstances. Mitsubishi is clearly going to need something meatier in its portfolio if it wants to get back on track financially.
Help appears to be on the way. According to The Detroit Free Press, Masatoshi Hasegawa, the company's executive vice president here in North America, has confirmed that at least two more models are destined for the company's US dealerships, and it looks like they're going to be entries into higher-volume, higher-margin segments. Hasegawa pledges that the company will overhaul its lineup over the next two to three years, and one of them will be a successor to the often-ignored Galant, a midsize sedan we last saw for the 2012 model year.
And what of the other model? Apparently it will be an unnamed "bigger brother" for the new 2014 Outlander, an acknowledgment that suggests Mitsubishi is considering bringing its Montero/Pajero SUV back to the States. Earlier this month, we heard a report that a next-generation model for the venerable off-roader remains a few years out, but it's possible Mitsubishi might import the current aging model before the new one is produced. A big shift is said to be in the works for the fifth-generation model, with a massive weight loss and possible plug-in hybrid variant tipped as top goals for the program.