Parts Suppliers Fined $740 Million For Price Fixing In US Market

Nine Japan-based car parts suppliers and two executives have agreed to plead guilty on charges of price-fixing in the US car industry.

The companies were found to have colluded on the prices of more than 30 different components, worth more than US$5 billion (AU$5.34 billion) to carmakers including General Motors, Ford and Chrysler.

The US Department of Justice has issued fines for the offences totalling US$740 million (AU$791 million).