A high strength and high toughness new bainitic steel has been developed which shows comparable mechanical properties, fatigue property, and machinability to those of quenched and tempered SAE 5140. The heat treatment of the bainitic steel is aging after hot forging in order to improve ratio of 0.2% proof stress and tensile strength (i.e. yield ratio) and to avoid warpage associated with quenching. The new bainitic steel has been applied to the slender and lightweight lower arms for automotive suspension. As a result, the total production costs in the lower arms have been reduced by nearly 15 percent.