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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

North Carolina now charging $100-per-year EV road-use fee

Tobacco Road just got a little more expensive for drivers of electric vehicles such as the Nissan Leaf and Tesla Model S. This year, North Carolina started instituting an annual $100 road-use fee for electric-vehicle drivers in order to close at least a little of the budgetary shortfall for road maintenance in the Tar Heel State, the News Observer reports. North Carolina legislators failed to green-light a hybrid-vehicle fee of $50 a year, which may have made a little more of a dent in the state's road funding. As it is, about 1,600 EVs are registered in North Carolina, meaning that the state will collect about $160,000 in such fees this year. And while some in the state are concerned that the fee could hurt EV adoption, others say it's fair because of the $7,500 in federal tax credits EV buyers get. Oh, and the fact that EV drivers don't pay gasoline taxes. Either way, the fees are a proverbial drop in the bucket, as North Carolina's transportation shortfall is estimated to average about $2 billion a year during the next three decades or so. Other states are starting to charge EV drivers a road-use fee as well. Last February, Washington State began instituting its own electric-vehicle fee of $100 per annum, and a number of other states are considering similar policies. News Source: News Observer via EV WorldImage Credit: Copyright 2014 Sebastian Blanco/AOL Government/Legal Green Nissan Electric north carolina

Carlos Ghosn asks why Japanese don't question him in Lebanon

BEIRUT — Former Renault-Nissan boss Carlos Ghosn said in an interview aired Monday that French investigators are coming to question him in Lebanon over some legal challenges in France, asking why don't the Japanese do the same thing. GhosnÂ’s comments came two weeks after a Lebanese justice ministry official said a team of French investigators will come to Beirut in January to participate in interrogating the former auto executive. Ghosn, who is a Lebanese, Brazilian and French national, fled Japan in a dramatic escape that drew headlines in late 2019, arriving in Lebanon on Dec. 30 of that year. In addition to his trial in Japan, the 66-year-old businessman is facing a number of legal challenges in France, including tax evasion and alleged money laundering, fraud and misuse of company assets while at the helm of the Renault-Nissan alliance. Ghosn said there is neutrality in Lebanon, where he has been living since fleeing Japan, adding that Lebanese authorities have asked Japanese officials to send the charges against him but Tokyo did not. “What does that mean?” asked Ghosn insisting that he is innocent and was the victim of JapanÂ’s judicial system. “Now the French have charges,” Ghosn said. “They (French) are coming and they will question me. The Japanese are not doing this.” “I consider all the charges to be false,” Ghosn said. After leading the Japanese automaker Nissan for two decades, Ghosn was arrested in Japan in November 2018 on charges of breach of trust, misusing company assets for personal gains and violating securities laws by not fully disclosing his compensation. He denied wrongdoing and fled Japan while out on bail awaiting trial. He is unlikely to be extradited from Lebanon, where he has been since last year. Ghosn said in the interview with the local LBC TV that Lebanon, which is passing through its worst economic and financial crisis in its modern history, “proved that it protects it citizens.” He added: “I am a French citizen, and the French state did not defend me.” At least two Ghosn-related investigations were opened in France. One focused on suspicious transactions between Renault and a distributor in Oman, as well as suspected payments for private trips and events paid by Renault-NissanÂ’s Netherlands-based holding company RNBV. Another investigation focused on suspected misuse of company funds for a party for Ghosn at Versailles.