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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.

Mystery shoppers love Infiniti, hate Tesla

Infiniti, followed by Lexus tied with Mercedes-Benz took the top two spots for best sales experience according to mystery shoppers from the latest Pied Piper Prospect Satisfaction Index, while EV manufacturer Tesla recorded the lowest overall score. Not surprisingly, premium brands dominated the top ranks. Including the three already mentioned, luxury brands occupied seven of the top ten spots and included Audi, BMW, Porsche, and the only American brand to crack the upper echelon, Cadillac. Toyota, Volkswagen, and Nissan rounded out the first ten positions. The news for domestic automakers isn't good. Aside from Caddy, the only other star-spangled automaker to score above the industry average is Chrysler. The rest of FCA, most of GM, and all of Ford fell below the line. But Pied Piper's mystery shoppers handed Tesla the biggest walloping – the company is ten full points below the next lowest brand, Volvo, and its score of 86 is 17 below the average of 103. It's baffling, considering the company's touted direct-sales model. "Tesla leaves me scratching my head," Fred O'Hagan, Pied Piper's president and CEO, told Wards Auto. "They own all of their stores, so you would think each one would be doing the same thing. But they're not. Tesla is consistent in its inconsistencies." O'Hagan added that there's a "huge variation" in Tesla's store-to-store effectiveness, and that in some cases, shoppers found showroom workers that acted more like "museum curators," Wards Auto reports. It might be popular to call Tesla the Apple of the car world, but based on Pied Piper's work, the brand has a long way to go to emulate the uniform shopping experience of an Apple Store. The news might be bad for Tesla, but even for the brands that scored below average, there's cause for celebration. Only Tesla and Mini lost points in this year's rankings, and only Mercedes and Lincoln held steady. Every other brand, including Infiniti, which topped the index for the first time, gained at least one point. The biggest improvements belong to Porsche, Land Rover, and Mitsubishi, which all jumped five points. Pied Piper's annual Prospect Satisfaction Index uses mystery shoppers – over 6,100 this year – from across the country to assess dealers and generate rankings from over 50 individual factors. News Source: Pied Piper via WardsAuto Green Audi BMW Cadillac Chrysler Infiniti Lexus Mercedes-Benz Nissan Tesla Toyota Car Buying Car Dealers study

These are the 10 longest-lasting vehicles on the road today

Buying a car has started feeling pretty bad. It’s hard to find what you want, and when you do, thereÂ’s a great chance itÂ’s not selling for the price you thought it would be. The least stressful way of coping with the situation is not to buy a new car, but how can you know how long your current ride will last? A recent study from iSeeCars found that some vehicles are prone to deliver many more miles of usable driving than others. iSeeCars looked at more than 2 million cars. The mileage over which the top 1% of cars within each model obtained was calculated and used to rank models, and the study required that a vehicle be sold for at least 10 of the past 20 years to be included. Unsurprisingly, Toyota dominated the top-10 list, but most of the other models come from General Motors with one Honda thrown into the mix. Ranked by mileage, the top-ten longest-lasting vehicles include: Toyota Highlander Hybrid: 244,94 miles Toyota Avalon: 245,710 miles Honda Ridgeline: 248,669 miles Chevrolet Tahoe: 250,338 miles Toyota Prius: 250,601 miles GMC Yukon XL: 252,360 miles Toyota Tundra: 256,022 miles Chevrolet Suburban: 265,732 miles Toyota Land Cruiser: 280,236 miles Toyota Sequoia: 295,509 miles The iSeeCars study found that SUVs and trucks occupy 75 percent of the top 20 vehicles with the potential to last the longest, and Toyota alone accounts for half of the top 20. Interestingly, the Prius and Highlander Hybrid made the list, suggesting that automakers are getting better at making batteries last a long time. "What we see is a list of highly-durable vehicles, capable of more than a quarter-million miles of use if properly maintained," said iSeeCars Executive Analyst Karl Brauer. "And to be clear, this study isnÂ’t reporting the maximum lifespan of these vehicles. This is simply a measure of current odometer readings. Most of these cars are still in use and going strong." Of course, the longevity of a vehicle has a lot to do with how itÂ’s treated and maintained over its lifetime. ItÂ’s easy to find stories of people nursing Toyota Tundras and other vehicles past a million miles, and thereÂ’s a 1960s Volvo with more than 3 million miles. Some vehicle types, particularly the largest SUVs, are often used as road-trip vehicles by large families, which means they tend to rack up big mileage. In most cases, buying and owning a higher-mileage car can be a risk, so itÂ’s essential to get a pre-purchase inspection or regular maintenance if you already own one.