Auto Parts Price-Fixing Probe Expands

The U.S. Dept. of Justice says its broad investigation of bid rigging by auto suppliers has grown to encompass more companies and parts segments as new evidence is discovered.

The government declines to identify participants in either category but describes the probe as its biggest price-fixing investigation ever.

Thus far, the DOJ has obtained guilty pleas from nine companies seven Japanese, one German and one Swedish and 12 executives. It has assessed total fines of more than $790 million (€591 million). Ten individuals are serving one- to two-year U.S. prison terms.

The charges have included conspiracy to manipulate prices of such components as airbags, electronics, heating control panels, rubber anti-vibration parts, seatbelts, steering wheels and wiring harnesses.

The U.S. is working with anti-trust authorities in Europe and Japan.