Cristina Arias/Getty Images
Industryweek 8522 Bosch

German Auto Parts Giant Guilty of Price Fixing in US

April 1, 2015
In addition, Bosch is charged with participating in a conspiracy to fix the prices of starter motors sold to Volkswagen between 2009 and at least June 2010.

WASHINGTON - German auto parts firm Robert Bosch (IW 1000/661) admitted to fixing prices and rigging bids for parts sold in the United States and was fined $57.8 million, the U.S. Justice Department announced Tuesday.

Bosch pleaded guilty to one felony count of bid rigging and price fixing of spark plugs, starter motors and oxygen sensors it sold to DaimlerChrysler (IW 1000/16), Ford (IW 500/6), General Motors (IW 500/5) and Andreas Stihl between 2000 and at least July 2011.

In addition, Bosch is charged with participating in a conspiracy to fix the prices of starter motors sold to Volkswagen (IW 1000/6) between 2009 and at least June 2010, the department said.

It did not identify the other companies and people involved in the conspiracy, but said Bosch was participating in the ongoing investigation.

The Bosch guilty plea and fine come as a part of a sweeping, years-long U.S. investigation into the auto parts industry that has seen 34 companies and 29 executives, mostly Japanese, plead guilty or agree to plead guilty to charges of rigging the market.

Bosch is the third European company to be charged in the years-long probe.

So far the U.S. has collected $2.5 billion in criminal fines, and many of the executives have been jailed.

"The participants in this conspiracy were not located in just one country or region of the world," said deputy assistant attorney general Brent Snyder of the Justice Department's Antitrust Division.

"Collusion related to automotive parts was global in nature as are our efforts to hold responsible companies and individuals accountable for the resulting harm to U.S. consumers and businesses," he said in the statement.

Copyright Agence France-Presse, 2015

Popular Sponsored Recommendations

What Does Agility Look Like for Today's Auto Industry?

Dec. 4, 2023
Without modern technologies, enterprises aren't able to fully analyze the risks and respond to ongoing supply chain issues and semiconductor shortages.

Shifting Your Business from Products to Service-Based Business Models: Generating Predictable Revenues

Oct. 27, 2023
Executive summary on a recent IndustryWeek-hosted webinar sponsored by SAP

Electric Vehicles Spark New Opportunities in the Automotive Industry

Dec. 4, 2023
Automakers have increased plans to produce Electric Vehicles to meet customer demand for low emissions. With this radical shift, new opportunities and challenges for the auto ...

Discover How an Eye Tracking Study Improves Training Procedures

Oct. 29, 2023
Did you know that your training processes can be streamlined by visualizing and analyzing key skills within your employee base? Find out how we use eye tracking to capture advanced...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!