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China's largest dealer body pushes back against foreign automakers over huge inventories

Do not think for a second that automakers forcing inventory on dealers in order to pad the numbers is a ruse known only in the US. Stories of individual brands have hinted at the trouble Chinese dealerships are having trying to move units as the country's economic growth remains hot but comes off the boil, like the one revealing that 95 percent of Toyota-FAW showrooms are losing money. Yet Toyota isn't the only culprit, and the issue has become so dire that the China Automobile Dealers Association (CADA), the largest dealer body in the country, has written to the government to complain. Chinese car sales are expected to close out the year with an annualized growth of six-percent, down from last year's 14 percent when targets were set, while in the background the pace of overall economic expansion is the slowest its been since the early nineties. Automakers, shipping cars on schedule to make their earlier targets, have blown up inventories such that they are an average of 1.8 times monthly sales, when the preferred multiplier is from 0.9 to 1.2. According to the CADA, the price wars and necessary incentives mean that only 30 percent of dealers are operating in the black. That number is down a whopping forty percent since 2010. In response, Toyota has already said it will not make its 2014 target of 1.1 million cars sold. We're a long way from 2012, when Toyota planned on selling 1.8 million cars in China in 2015, a target that's now as realistic as a manticore. BMW, Honda and Nissan have erased numbers on their spreadsheets, too; BMW growth dropped from 20 percent to 8 percent midyear after it began "reducing wholesale supplies," and Honda has been reworking its plans as sales have decreased each of the past six months. It's a big deal for Chinese dealers to begin protesting publicly, the CADA saying, "In the past, dealers were angry, but dared not speak out. But now, they have to shout because the situation is getting so unbearable." With six-percent growth forecast for next year and dealers unwilling to remain underwater, The Year of the Sheep coming in 2015 could portend meaning beyond the zodiac. News Source: ReutersImage Credit: AP Photo/Andy Wong BMW Honda Nissan Toyota Car Buying Car Dealers

This is the BMW Z4 GTE that will wear the Roundel in ALMS

The Speedweeks at Daytona International Speedway are a month of racing and reveals, with the season's metal going for the flag at races like the Rolex 24 at Daytona and other cars being introduced to the public. In the latter category is the BMW Z4 GTE (click the image above to enlarge) joining the American Le Mans Series GT class this year with BMW Team RLL (Rahal, Letterman and Lanigan). This machine replaces the M3 GT that completed four years of service and won the class title in 2010 and 2011. Naturally, the team is tempering expectations for the Z4 GTE by repeating the fact that it sees this season as a development year.
BMW Team RLL drivers for its two cars will be Bill Auberlen and series rookie Maxime Martin in the No. 55, aided by Jörg Müller for the endurance races at Sebring and Road Atlanta. The No. 56 car gets Dirk Müller on a full-time basis, Joey Hand when he's not competing in the DTM series, and John Edwards when Hand isn't available. Uwe Alzen will help out with driving duties in the No. 56 at endurance races.
Want to know more? Scroll down below for the complete press release.

BMW i8 headed to Frankfurt

According to Edmunds, BMW will reveal its production i8 hybrid sports car at the Frankfurt Motor Show next month. The i8 is the second vehicle to come from the automaker's new "i" initiative, following the debut of the smaller i3 hatchback last month.
The BMW i8 makes its debut nearly four years after the original Vision EfficientDynamics concept bowed at the Frankfurt expo in 2009. The production car is expected to use a 1.5-liter three-cylinder engine that drives the rear wheels, coupled to an electric motor that drives the front wheels. Combined output is said to be something like 393 horsepower and 406 pound-feet of torque, based on our earlier reports. The i8 is also expected to be very light, with curb weight coming in somewhere around 3,125 pounds. Finally, the i8 is said to have a pure electric range of 20 miles, and should be able to hit 62 miles per hour in just under five seconds.
Other publications had the chance to ride along in the i8 (in prototype form) and came away impressed. We're hoping we'll feel the same when the car officially goes on sale sometime in early 2014. Stay tuned for more at the i8's official unveiling in just a few weeks.