NSK Ltd. settlement will benefit indirect purchasers of parts, including dealers and consumers, whose prices were inflated due to illegal price fixing. NSK Ltd. announced Friday that it has agreed to settle class action lawsuits with some indirect purchasers, including automobile dealers and consumers, that are part of the plaintiff classes in litigation pending in […]
Japanese Auto Parts Maker to Pay $130 Million Fine in Anti-Trust Case
The U.S. Justice Department announced yesterday that Nishikawa Rubber Co. Ltd. has agreed to plead guilty and pay a $130 million criminal fine for its role in a conspiracy to fix the prices of and rig the bids for automotive body sealing products installed in cars sold in the U.S. According to charges filed yesterday […]
Two Auto Parts Companies and Five Executives Indicted for Price Fixing
A federal grand jury in the U.S. District Court for the Southern District of Ohio returned two indictments charging Japanese automotive parts companies, their U.S. subsidiaries, and a total of five executives for their alleged participation in international conspiracies to eliminate competition in the sale of automotive parts sold in the United States and elsewhere, […]
Former Auto Parts Company President Pleads Guilty to Bid-Rigging
The former president of an automotive parts company pleaded guilty yesterday and was sentenced to serve 18 months in a U.S. prison for his role in a conspiracy to fix prices and rig bids for the sale of automotive body sealing products sold in the United States, the Justice Department announced. Keiji Kyomoto, a former […]
Ford Drops Price 11% on 34 New Collision Repair Parts in Truckload Program
Ford Customer Service Division (FCSD) announced it has added 34 new parts to its Collision Parts Truckload Program, reducing list prices on those parts by an average of 11 percent. The additions include parts for the popular F-series, Edge, Fusion, Escape and Explorer vehicle lines. “For nearly 20 years, the Truckload Program has played an […]
OEM Interior Parts Supplier Fined $2.35 Million for Price Fixing
INOAC Corp. has agreed to plead guilty and to pay a $2.35 million criminal fine for its role in a conspiracy to fix prices and rig bids on certain plastic interior trim automotive parts installed in Toyota cars sold to U.S. consumers. According to the felony charge filed yesterday in the U.S. District Court of […]
Interview: Terry Fortner, LKQ Corporation
In our exclusive video interview, Fortner details a new legislative effort to hold OEMs responsible for recalls that may impact collision repair facilities. Larges scale recalls have become a troubling fact of life for vehicle manufacturers. In our video interview embedded below, Terry Fortner from LKQ Corporation details a new legislative effort to hold vehicle […]
Honda Cautions that New Driver Assist/Safety Systems Require OE Parts Replacement
Honda is cautioning collision repairers that while driver assist systems and other safety systems on many late model Honda and Acura automobiles offer heightened safety and convenience for the vehicle driver and passengers, their performance many be comprised if original equipment (OE) parts are not used during the repair process. According to a Honda parts […]