Canadians Finally See Auto Parts Settlement Payouts
Canadians are finally receiving payments from the long-awaited auto parts settlement after years of waiting. The $78 million fund, approved by courts in 2023, compensates consumers impacted by price-fixing in auto parts. Payments began this week through e-transfer or cheque, giving relief to thousands who filed valid claims.
How the Auto Parts Settlement Began
Back in June 2023, courts in Toronto, Vancouver, and Quebec City approved 23 class action lawsuits. These suits alleged that several auto parts manufacturers were involved in global conspiracies to inflate prices for new vehicle components. Although the companies involved never admitted guilt, international investigations revealed widespread price manipulation.
According to Vancouver lawyer David Jones, price-fixing harms both businesses and consumers by driving up costs unfairly. While car makers such as Toyota, Honda, and Jaguar were affected, they were never accused of wrongdoing. Instead, the lawsuits focused on manufacturers accused of fixing auto parts prices.
Who Qualifies for a Settlement Payment?
To be eligible, Canadians must have purchased or leased a new passenger car, SUV, van, or light truck (under 10,000 pounds) during the affected years listed in the class action.
Each approved claimant will receive a minimum of $25 per claim, though the actual payout depends on the total number of valid submissions. This means some Canadians may see higher payments depending on their purchase history.
Important Payment Details You Need to Know
E-transfer recipients received an email on August 27 from donotreply@e.ricepoint.com with instructions. The security answer is the claimant’s full birth month, spelled out completely (for example: January, not Jan).
E-transfers remain valid for 30 days, while cheques will be valid for four months. However, if you enter the security answer incorrectly three times, your payment will be locked. To avoid losing your funds, contact the claims administrator before making a third attempt.
If your claim was rejected, it may have been flagged for duplication or potential fraud. Claimants can email autoparts@ricepoint.com to request a review.
Why This Settlement Matters
This case highlights the impact of global price-fixing on everyday Canadians. The Competition Act bans such conspiracies because they inflate costs and reduce fairness in the marketplace. Through this settlement, affected Canadians are finally seeing justice in financial form.
Stay tuned to Maple Wire for more updates on consumer rights, class action news, and important financial stories.
