Five Companies Charged in Auto Parts Price Fixing
Last Updated on May 1, 2020
Investigation Complete
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At A Glance
- This Alert Affects
- Businesses that purchased certain Yazaki, Denso or G.S. Electech auto parts.
- Damages
- Businesses which purchased auto parts implicated in the price-fixing scheme may have legal recourse to recover compensation for damages.
- Company(ies)
- Yazaki, Denso, G.S. Electech
- Additional Details
- The auto parts implicated in the price fixing scheme include Yazaki instrument panel clusters and fuel senders; Denso electronic control units (ECU) and heater control panels; and G.S. Electech speed sensor wire assemblies.
- Date
- Reportedly, Yazaki, Denso and G.S. Electech have been charged with price fixing certain auto parts between Jan. 2006 and Feb. 2010.
Companies which purchased certain automotive products in their operations may have legal recourse in light of reports that they have been overcharged as part of an admitted price-fixing scheme. The U.S. Department of Justice has launched an antitrust investigation into the auto parts industry, and five companies, including Yazaki, Denso and G. S. Electech, have already been charged with rigging bids and price fixing certain auto parts between Jan. 2006 and Feb. 2010. If your business has purchased any of the following products in its operations, you may be able to seek monetary damages through an antitrust lawsuit.
- Yazaki Instrument Panel Clusters
- Yazaki Fuel Senders
- Denso Electronic Control Units (ECU)
- Denso Heater Control Panels
- G.S. Electech Speed Sensor Wire Assemblies
Description of Products Under Investigation
Price fixing occurs when business competitors agree to set their prices to buy or sell goods at a certain price point, and is illegal under U.S. antitrust laws due to its harmful effect on competition and consumers. The following are among the products which were reportedly implicated in the price fixing scheme:
Yazaki Instrument Panel Clusters: The mounted array of instruments and gauges housed in front of the driver of an automobile. Also known as meters.
Yazaki Fuel Senders: These can be found in the fuel tank of an automobile and measure the amount of fuel in the tank.
Denso Electronic Control Units (ECU): An embedded system that controls one or more of the electronic systems or subsystems in a motor vehicle.
Denso Heater Control Panels: These are found in the center console of an automobile and control the temperature of the interior environment of a vehicle.
G.S. Electech Speed Sensor Wire Assemblies: These are installed on cars with Antilock Brake Systems. The speed sensor wire assemblies connect a sensor on each tire to the ABS and carry electrical signals from the sensors to the ABS to tell it when to engage.
These companies have already pled guilty to the charges against them and, along with Furukawa Electric Co., have been ordered to pay a combined fine of $750 million.
Antitrust Lawsuit
Price fixing of automotive parts can cause great harm to consumers by forcing them to pay more for products and by depriving them of the benefits of competition. Enacted to prohibit price fixing, antitrust laws can save consumers billions in illegal overcharges by ensuring that the public benefits from competitive prices for the products they elect to purchase.
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