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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.

Ford unveils all-new 2016 F-650 and F-750 at NTEA

Medium-duty work trucks might not be the most exciting vehicles, but they perform necessary jobs everyday. Ford is in the process of a complete refresh of its entire commercial vehicle lineup over the next 18 months, and it is debuting the all-new versions of its F-650 and F-750 trucks at the NTEA Work Truck Show in Indianapolis, IN.
"The all-new F-650/F-750 allow us to leverage our strengths and sales leadership in Classes 1 to 5 to create a better F-650/F-750 that's designed, engineered and built by Ford in the USA," said Ford spokesperson Mike Levine to Autoblog via email.
Huge amounts of torque is vital for trucks like these, and both models are offered with some of Fords biggest engines. Buyers can opt for either the 6.7-liter Power Stroke V8 diesel with TorqShift 6-speed automatic with available power takeoff or a gasoline-fueled 6.8-liter V10 with a 6-speed automatic. The V10 can also be ordered from the factory to be fueled by compressed natural gas or liquid propane gas.

Ford bumped by Amazon in best-perceived brand list

Back in July, a mid-year study from YouGov found Ford to have higher brand perception than any other company in the US. While Ford failed to top the year-end study, it still has plenty to brag about. The final BrandIndex report shows that online retail giant Amazon edged out Ford for the top ranking, while Subway, the History Channel and Lowe's rounded out the top five spots.
For Ford, it's still an improvement from sixth place in the 2012 study, and, more importantly, it dominated other automakers in terms of brand perception with a clear advantage over Toyota, Honda, Chevy and Volkswagen. To determine how well - or not so well - a brand is perceived, YouGov uses a Buzz score that asks respondents whether they've "heard anything about the brand in the last two weeks, through advertising, news or word of mouth" and whether it was positive or negative. While it isn't clear how many respondents were included, YouGov does point out that Ford had a strong presence in social media, advertising and newsworthy toward the end of the year.
For more details about the study and the top companies, check out the press release posted below.