NOVI, MI—The former president of a U.S. joint venture of Nishikawa Rubber Co. has pled guilty to fixing the prices of weather stripping and other auto body sealing products and was sentenced to 18 months in prison.
DETROIT—Civil settlements recently have exceeded $260 million in a sprawling Detroit lawsuit alleging more than a decade of price-fixing in the automotive supply chain.
WASHINGTON—Japanese automotive supplier Toyoda Gosei has pleaded guilty to price-fixing and has agreed to pay $26 million in fines. An investigation conducted by the U.S. Department of Justice found out that the company fixed the price of automotive hoses, air bags and steering wheels that were sold to Subaru and Toyota Motors.
BEIJING—China has imposed fine of $202 million on 12 Japanese car parts makers for allegedly price-fixing. The ruling came after Chinese regulators raided several foreign companies, including Mitsubishi Electric, Sumitomo Electric, Audi, BMW, Daimler and General Motors.
WASHINGTON—An executive from G.S. Electech Inc., a supplier to Toyota Motor Corp., has pleaded guilty to playing a role in an international conspiracy to rig bids and fix prices on auto parts, the U.S. Department of Justice said.
DETROIT—A federal grand jury has indicted a former top-tier global sales executive at Takata Corp. on a charge of participating in a conspiracy to fix the prices for seat belts, the U.S. Department of Justice said today.
DETROIT—Autoliv Inc. has agreed to pay $65 million to various groups of plaintiffs in a massive civil lawsuit over global automotive supplier price-fixing, making it the fourth company to do so in the past year.
DETROIT—A federal grand jury has charged a Japanese executive with conspiring to fix prices on auto parts. According to an indictment filed Thursday in U.S. District Court here, Hitoshi Hirano, while executive managing director at Tokai Rika Co. Ltd., fixed prices of heater control panels sold to Toyota Motor Corp. between 2003 and 2010.