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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

Recharge Wrap-up: first Chevy Volt hits 200K miles, DriveNow launches in London with BMW i3 on deck

The first Chevrolet Volt has driven over 200,000 miles. According to the owner, Erick Belmer, the car, which he purchased on March 28, 2012, is "holding up flawlessly" with "no noticeable battery capacity loss." Belmer has a commute of about 220 miles per day, rotates his tires every 10,000 miles, and gets an oil change every 38,000 miles. Belmer still loves driving his "dream car" every day, and says it is "wonderfully engineered." Read more at Inside EVs. DriveNow has launched in London, and will include the BMW i3 as part of its carsharing fleet. Daimler shut down its Car2go operations there just six months ago. Currently, DriveNow members have access to the BMW 1 Series and Mini Countryman, but come spring of 2015, DriveNow, which is a joint venture between BMW and Sixt SE, will add 30 all-electric i3 EVs to its London service. DriveNow's rates for London are set at 39 pence per minute, with an hourly maximum cost of GBP20 (about 61 US cents and $31, respectively). The service currently operates in the boroughs of Islington, Haringey and Hackney, with hopes of expanded service in the near future. Read more at Hybrid Cars or at Reuters. FIA's Formula E electric racing championship series received the Autosport award for Pioneering and Innovation. The award ceremony was a black-tie event at the Grosvenor House Hotel in London. Formula E CEO Alejandro Agag accepted the award. "Many people in motorsport, when we started Formula E, didn't think we would make the first race," says Agag. "To announce we were doing a championship with cars that didn't then exist was a real challenge. But after that first race in Beijing, everything worked." Read more at Formula E's website. The Nissan Leaf has driven over a billion collective kilometers. That's more than 621.3 million miles. Nissan said in August that it expected to reach that mark by January, and it has done just that. To celebrate, Nissan Europe has created a video to thank its 147,000 Leaf drivers to bring the car to that substantial milestone in less than four years. Check out the video below. Featured Gallery 2014 Chevrolet Volt View 11 Photos Related Gallery 2014 BMW i3: First Drive View 33 Photos Related Gallery 2013 Nissan Leaf: First Drive View 15 Photos News Source: Inside EVs, Hybrid Cars, Reuters, Formula E, YouTube: Nissan EuropeImage Credit: Chevrolet Green BMW Nissan Transportation Alternatives Electric Racing Vehicles recharge wrapup

Carlos Ghosn to make first public appearance in seven weeks on Tuesday

Ousted Nissan chairman Carlos Ghosn is set to make his first public appearance in seven weeks at a Tokyo court on Tuesday after he requested an open hearing to hear the reason for his continued detention. Ghosn has been held in a detention center since his Nov. 19 arrest on allegations of financial misconduct, which was followed by re-arrests over further allegations. The hearing will take place at 10:30 local time (0130 GMT) on Jan. 8, the Tokyo District Court said on Friday. The reason behind the timing of Ghosn's request was not clear. Earlier this week, the court approved an extension to Ghosn's detention until Jan. 11, after re-arrest by prosecutors who accuse him of aggravated breach of trust in transferring personal investment losses to Nissan. Those allegations center on the use of company funds to pay a Saudi businessman who is believed to have helped him out of financial difficulties, sources said last week. According to an article from The New York Times, Ghosn and his family assert that he is innocent. In remarks Ghosn made while under detention in Japan, he is reported to have said through his lawyer, "I want to have my position heard and restore my honor in court." Former Nissan executive Greg Kelly, who has been charged with conspiring to under-report Ghosn's income, has been released on bail after the court ruled against extending his detention while he awaits trial. Ghosn's arrest was followed by his removal from roles at Nissan and Mitsubishi. The case has rocked the auto industry and strained Nissan's ties with French partner Renault where Ghosn still remains chairman and chief executive. Renault has launched a search for an interim chief to fill Ghosn's roll at the French company as he deals with these legal cases in Japan. The arrest has also put some of the practices of Japan's criminal justice system under international scrutiny, including keeping suspects in detention for long periods and prohibiting defense lawyers from being present during interrogations. (Reuters contributed to this report.)Related Video: