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Krafcik says US Gov. shutdown is slowing Oct. auto sales

The government shutdown is eroding consumer confidence in the auto market, says John Krafcik, CEO of Hyundai's US sales unit, and could lower October sales by as much as 10 percent, Automotive News reports. "It's that anxiety that keeps customers, potential buyers, on the sidelines when making a big purchase like an automobile," Krafcik says, adding that industry sales could be off by five to 10 percent in October compared to September.
The fourth quarter, which started October 1, usually consists of increased auto sales as dealerships clear their lots to make room for the next year's models. Leading up to the fourth quarter this year, the auto industry was doing well in the fragile, recovering US economy, although September deliveries decreased by 4.2 percent, due in part to this year's Labor Day sales being recorded for August.
To help its customers, Hyundai announced it is deferring new-car loan and lease payments for furloughed federal workers until they're called back to work and also offering them a three-month payment deferral if they buy a new Hyundai in October. "We have already had requests from over a thousand people to have their payments deferred," Krafcik says.

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Lexus resurrecting SC name for big, expensive coupe

Lexus is preparing the SC nomenclature for its third act, after the first bombshell SC coupe from 1991 and the second, Desperate Housewives hardtop convertible evolution from 2001. The brand is aiming again for something that makes a deep mark, with rumored specs pointing to a large, heavy, powerful coupe that will square its spindle grille up against the Mercedes SL and BMW 6 Series. It will be built on the frame of the next-generation LS sedan, and Automobile says internal combustion motivation will come in three flavors. The starter will be a juiced-up version of the company's 5.0-liter, naturally aspirated V8, the one that currently makes 467 horsepower in the RC F. Stepping up from there will be some kind of hybrid powertrain good for around 500 horsepower; last year Motor Trend wrote that the hybrid would be based around a V6 ICE with Toyota's coming "multi-hybrid" system. The top step will be a twin-turbo version of the V8 that could exceed 600 hp. Early reports of dimensions have it at 185 inches long, 75 inches wide, and 53 inches tall. It is expected to use the world's first application of a ten-speed automatic transmission. It'll also get the RC F's torque vectoring mechanism for the rear-wheel-drive setup, though Car and Driver says an all-wheel drive option "might be added later." Aluminum and carbon fiber components will help manage weight. Its design will be inspired by the LF-LC concept, and right now its pricing is as murky as its looks. C/D posits an MSRP from $80,000 to $95,000, Automobile figures it will go "past the $100,000 mark," and MT pegs the situation at $150,000. All agree, however, that it will join the retail pipeline as a 2017 model.