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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.

GM outsold VW globaly in first quarter, Toyota reports numbers next week

General Motors released its first quarter sales figures this week, reporting that it sold 2.36 million cars and trucks worldwide. That figure represents an increase of 3.6 percent when compared to the same period last year. GM's growth was attributed to many factors, including global Cadillac sales that were up 26 percent and Chevrolet posting a one percent increase over last year (this marked Chevy's tenth straight year of record global sales).
Volkswagen came in just behind GM, as the German automaker reported global sales from January through March at 2.27 million vehicles, an increase of five percent when compared to last year. While that number was strong, VW is cautioning that markets outside China and the US, such as those in Europe, are becoming a challenge as economies falter.
Yet to report sales is Toyota, current holder of the global world sales crown (the Japanese company sold 9.75 million cars last year, against 9.29 million sold by GM and 9.1 million vehicles sold by VW). Even though GM and Toyota both say they don't care who sells the most units, it is unquestionably a strong bragging point and sales equate to revenue. That said, Toyota will report its first quarter numbers next week.

2017 Toyota 86 Drivers' Notes | Fun, even with an automatic

The Toyota 86 is a car that enthusiasts begged Toyota to build for decades. It's small, lightweight and rear-wheel drive. Thanks to a partnership with Subaru that resulted in the BRZ, this stylish coupe hit the streets in 2012. In the U.S., the car was originally known as the Scion FR-S but was rebadged as a Toyota after Scion was axed last year. Along with a new name, the 86 received updated styling both inside and out as well as a revised suspension and a slight bump in power, at least for the manual models. This Hot Lava-colored car doesn't feature Toyota's slick six-speed manual. Instead it rocks a six-speed automatic with paddle shifters. While some enthusiasts may look down at that, automatics make up more than half of 86 sales. Still, the bones are there, and some people don't think the automatic is all that bad. Either way, we can't encourage enough people to buy these cars, as we want Toyota and Subaru to keep building them. Senior Editor, Green, John Beltz Snyder: When I first slid behind the wheel of the 86, I was surprised to see the gear selector and paddles. It's one of those cars that you don't think of as having anything but a manual transmission. Also, in an interior where all the controls and displays are underwhelming, a set of paddle shifters stands out as one of the few tactile objects in the cabin. I ended up using the paddles quite a bit, and found that I actually enjoyed using them, so much so that I'd actually consider opting for the automatic transmission were I to buy an 86. Despite shifts that aren't as razor sharp as they could be, the car's high-revving engine means that it still feels great to use. Riding an engine like this up to its redline, filling the cabin with noise, is the sort of thing that'll give you goosebumps. Being able to keep both hands on the wheel while shifting is a good thing for engagement in this car, based on my time with it. Plus, when I got stuck in traffic, I didn't have to wear out my left leg. The other brilliant thing about the Toyota 86 is its sense of balance. I loved the way it communicated its load distribution when cornering, whether on or off the throttle or brake. The fact that the nose of this car snaps right to where you want it when you start dialing in steering angle is satisfying. And its low stance and good view out the windshield make it really easy to place on the road.