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Automakers paying Chinese dealers for lower-than-expected sales

The Chinese dealers vs. foreign manufacturers story won't quit. It began with a story on the struggles faced by FAW-Toyota joint venture dealers, with supposedly 95 percent of the showrooms losing money, and 10 percent of them doing so poorly that they'd have to exit the business. The problem is mandated sales targets, most set when the country's economy was racing. Now that things have slowed, China's dealers are swimming in unsold cars and the costs to keep them. In the case of FAW-Toyota, dealers asked Toyota to hand over 2.2 billion yuan ($355 million) to help address the situation. That was followed by a report noting the issues that Honda, BMW, and Nissan dealers are having with the same issue, revealing that the Chinese Automobile Dealers Association (CADA) had taken the highly unusual step of writing to the Chinese government to complain. Now Reuters reports that CADA is not only pressing its case even harder, it's being open about it: it announced that BMW agreed to pay dealers 5.1 billion yuan ($820 million) to alleviate poor profits last year. Unnamed sources said Audi has thrown 2 billion yuan into the kitty for subsidies, and Daimler has contributed "about 1 billion yuan" to its dealers. The battle isn't just about 2014, but how business will be run in 2015 as well: Chinese Porsche dealers have requested the automaker lower its 2015 target of 64,000 cars, which would be a 40-percent increase on its 2014 sales of 46,931 vehicles. One analyst called it "shocking" that the CADA has taken its fight public, while CADA comments continue to imply that dealers have been railroaded to the cliff's edge without recourse. "Due to the difference in status," it's deputy secretary said, "individual dealers are not willing to, or don't dare to, talk frankly with the carmakers...." Both parties need one another, so they'll figure out a way to make it work – but that could mean acknowledging the Chinese market is behaving more like a mature one, not an emerging one. News Source: ReutersImage Credit: Lintao Zhang/Getty Images Earnings/Financials Audi BMW Porsche Toyota Car Dealers Luxury

2016 Porsche 919 Hybrid sharpens up to defend its titles

Porsche made a clean sweep of LMP1 racing last season, winning the 24 Hours of Le Mans as well as the FIA World Endurance Championship for both drivers and manufacturers. And now that it's back on top of the podium, it's not about to step down again without putting up a fight. To that end, witness the newly revised 919 Hybrid. Revealed ahead of the season's start with the Prologue event at the Paul Ricard circuit in France, the 2016 Porsche 919 Hybrid is an evolution of the version that debuted in 2014 and trounced the competition in 2015. But Audi and Toyota – with their similarly revised R18 and TS050 – will be at least as hungry this year to dethrone Porsche as Porsche will be to retain its titles, so the racing engineers in Weissach have made made a number of revisions. The chassis and basic engine architecture, of course, are the same, with a two-liter turbocharged V4 assisted by a brake energy recovery system at the front and exhaust energy recuperation at the back. But the engine now uses less fuel, so it can run longer between pit stops – a vital element of the strategy when racing for hours on end. The aerodynamics were made more adjustable so that the team can switch between three packages depending on the type of track they're running. While they were at it, those notoriously exacting German engineers managed to cut some excess weight out as well. And instead of the three different color liveries like last year, this season the 919 Hybrid will run under a common livery of black, white, and red – which hopefully won't get mixed up with those of its rivals from Audi and Toyota. We guess we'll all find out when the season kicks off in earnest at Silverstone in mid-April. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. FIA World Endurance Championship WEC, LMP1 Ready for title defence: the new Porsche 919 Hybrid Stuttgart. World debut of the new 919 Hybrid: Two days before the official Prologue for the FIA World Endurance Championship (WEC) at Paul Ricard, France, Porsche is presenting its race car for this season. Strong development characterises the new 919 Hybrid' technology. The powertrain became even more efficient, the aerodynamics were even more specific for the various race tracks and the weight of single components was even more reduced. "The over 900 hp strong Le Mans Prototype is ready for the title defence," said Fritz Enzinger, Vice President LMP1.

Bisimoto's 911 and Honda Odyssey each pack 1,000 hp

There aren't a lot of vehicles on the road that pack a thousand horsepower. The Bugatti Veyron and McLaren P1 are in rare company, but there have been a handful of aftermarket tuners that have managed to extract that much power out of lesser vehicles. Bisimoto is responsible for more than its fair share, so Matt Farah and the team at Drive stopped by the workshop in Southern California to check out the craftsmanship for the latest episode of Tuned. What they found is two vehicles with that astronomical four-figure output that otherwise couldn't be more different from each other. First up is the vintage, stripped-out 911 that company founder Bisi Ezerioha built for himself. It's based on a 1976 Porsche 911 Carrera with a widebody kit and a pair of turbochargers hanging off the back. The result is that thousand-horsepower output and, as Farah found out, one of the scariest, hairiest, and squirliest automobiles ever devised. As if that weren't enough, there's a thousand-horsepower minivan on the docket, too. This one is based on a Honda Odyssey, rebuilt on an air suspension and a six-speed manual gearbox conversion out of an Acura TL. And of course the engine's been tuned to deliver that headline output figure. Honda and Bisimoto showcased the vehicle at the SEMA show a couple of years ago, where Farah says he didn't think it could possibly hold together. But as he discovered in the video above, it actually does, and accelerates with tenacity... and plenty of room for the kids.