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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

BMW confirms X4 for next year, i3 preorders starting to add up

BMW has confirmed the long-anticipated X4 will bow next year. Norbert Reithofer, chairman of the automaker's board of management, made mention of the upcoming CUV during remarks at the company's annual accounts press conference. Reithofer said that BMW has sold more than 2.7 million X models since it began producing the machines, and that the company plans to expand those offerings with the new X4 next year. He declined to offer up any more details, though from what we've heard so far, the model will be more of a crossover than either the X3 or the X5.
Reithofer also made it clear that BMW is getting serious about electric vehicles, saying the i3 (pictured above, in prototype form) is "definitely coming to market" and that the runabout will be ready by late 2013. BMW reports it has had "Several hundred advance orders" for the EV. As you may recall, the i3 uses a special carbon fiber reinforced plastic passenger cell to save weight and boasts a standard range of 93 miles. You can read the full transcripts from the press conference below for more information.

BMW M4 Concept leaked ahead of Monterey debut

Last month, we heard that BMW might be bringing a concept previewing its next M4 sports coupe to this year's Monterey festivities. Well, thanks to the folks at USA Today, we have absolute confirmation of this by way of some leaked images. And goodness, she's certainly a looker.
While a few of us still find some of the 4 Series' design to be a bit awkward, it's hard to not immediately warm up to the aggressive bits of this hotter M4 concept. It certainly looks the business of a proper sports car, and a worthy successor to the M3 coupe. Of course, a lot of this will likely be toned down for the production version, which we'll likely be seeing at the 2014 Detroit Auto Show in January, along with its four-door M3 kin.
The official M4 Concept details will be revealed later tonight, but for now, have a look at a few shots of the golden show car in our gallery of leaked shots, above.