Home News News Blog Guilty Pleas Show High Cost of Price-Fixing in Auto Industry

Guilty Pleas Show High Cost of Price-Fixing in Auto Industry

Price-fixing conspiracies by auto parts manufacturers may have inflated the cost of your new car. In announcing guilty pleas by nine Japan-based auto parts makers and two executives, the Justice Department today laid out details of brazen collusion schemes to rig the prices of more than 30 kinds of car parts—like seat belts, radiators, and windshield wipers—sold to U.S. car makers.

Sep 26, 2013 05:00 PM

Guilty Pleas Show High Cost of Price-Fixing in Auto Industry


Price-fixing conspiracies by auto parts manufacturers may have inflated the cost of your new car. In announcing guilty pleas by nine Japan-based auto parts makers and two executives, the Justice Department today laid out details of brazen collusion schemes to rig the prices of more than 30 kinds of car parts—like seat belts, radiators, and windshield wipers—sold to U.S. car makers.

The conspiracies—some lasting a decade or more—affected more than $5 billion in automotive parts and more than 25 million cars purchased by U.S. consumers.

Full story