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Auto Parts Makers Investigated for Alleged Price Fixing

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Detroit, MIThree Detroit-area auto parts manufacturers had their premises searched by the FBI on Wednesday as part of an international investigation into allegations that an anti-competitive or price fixing cartel exists among automotive electronic components suppliers.

The three companies raided just hours before Toyota president Akio Toyoda testified at a congressional hearing, are Denso, Tokai Rika Co, and Yazaki Corp. The three companies supply Toyota with auto parts, and Denso supplies Toyota with accelerator pedals.

Other car parts makers include the German company Leoni AG, which was visited by European Commission investigators.

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