Tradelines News

Get the latest news and updates on cross-border customs and international trade.

U.S. Grand Jury Indicts 7 in Conspiracy to Fix Prices of Auto Parts

Posted September 25, 2014

Under Economic Issues, International Trade Issues

(IndustryWeek – AFP)

The United States charged seven Japanese executives with price-fixing Thursday in a long-running probe into illegal practices in the auto parts industry.

Three executives from Mitsubishi Electric Corp were accused by a federal grand jury of conspiring to set the prices of starter motors, alternators and ignition coils sold to top U.S. manufacturers, and U.S.-based Japanese manufacturers, from at least 2000 through 2010.

Another four executives from Hitachi Automotive Systems were similarly charged over price-fixing involving a number of parts sold to U.S. automakers including starter motors, fuel injection systems, and ignition coils. Read more here.