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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.

The revolutionary Bose suspension that could have been

The Bose name pops up on these pages every once in a while – usually, as you might expect, because some automaker or another has installed its audio systems in one or more of its models. But a few years back, the research-driven audiophiles at Bose developed a revolutionary adaptive suspension system that could have been a game-changer. Sadly, it wasn't. The Bose suspension system was a technological breakthrough. As you can see from the pair of Lexus LS sedans demonstrated (and the Porsche Cayman thrown in for good measure) in the two-minute video above from CNET, the system virtually eliminated body roll and smoothed out bumps in the road to near glass-like serenity. It could even jump over minor obstacles. Unfortunately, the system was too heavy and expensive to put into production, and the project was shelved. Instead, it was repackaged into a suspended driver's seat for heavy-duty, long-haul trucks and called the Bose Ride System. It's said to significantly reduce fatigue and back pain while encouraging driver alertness and wellness – which is all well and fine, but a far cry from what the suspension system could have meant for the automotive industry. Just think about that the next time you notice the Bose logo on the speaker grille in an upscale vehicle from the likes of Audi, FCA, GM, Mazda, or Nissan – all automakers that offer Bose audio systems, and which might have considered implementing the advanced suspension if only it were more practical for production. Latest Video: News Source: CNET via YouTube Lexus Technology Videos lexus ls cnet

Toyota profits up 23% on high US sales, despite mounting legal costs

Toyota earned $9.3 billion in net income in the financial year that ends next month. The number beats earlier forecasts and marks a five-year high for the automaker, with both operating income and revenue up by 9.5 percent and 2.5 percent, respectively. Toyota saw quarterly profit enjoy a year-on-year jump of 23.4 percent, with the manufacturer earning more than $1 billion between October and December 2012. The good news comes in spite of the fact that the Japanese automaker actually endured an operating loss in North America, due in part to legal fees.
Toyota is set to pay more than $1 billion to owners who claim their vehicles decreased in value as a result of the company's recent spate of recalls. Even so, all three of the automaker's brands enjoyed a 13.5 percent sales increase in the US in the last quarter, beating the industry average. Toyota faltered in Europe, however, where it earned $99 million in operating profit last year, compared to $111 million in 2011. You can take a closer look at the company's full press release below for more information.