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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

Recharge Wrap-up: Big Oil fails at renewable fuel, scientists study air with EVs, plug-in Panamera sales

Big Oil companies help keep renewable fuels out of your tank, a new report shows. No surprise there, right? The Renewable Fuels Association published a report card grading the country's largest retail gasoline chains on fuel offerings like E85 and E15. The report gave failing grades, with less than one percent of stations offering E15 or E85, to "Big Five" companies Exxon, BP, ConocoPhillips, Chevron and Shell, among other oil company and convenience/grocery store brands. The only major oil companies that didn't get an "F" were Valero (D), Cenex (B), and Marathon (A-). The eight companies that scored an A+ had at least 25 percent of their stations offering E85 or E15. Read more at Domestic Fuel.Leicester scientists are studying local air pollution using EVs. Beginning July 4, University of Leicester researchers began driving electric vehicles kitted out with special sensors to monitor air quality throughout the city (similar to how California does it). Now their emissions-free daily driving duties double as data collection for their studies. "By monitoring air quality as a seamless part of our daily transport system, we are providing a cost-effective way to help inform future policy and operational systems," says the University's Dr. Roland Leigh. Read more at Fleet News. "There is no doubt electric cars are the future." – Nissan's Andy Palmer Nissan is exploring the idea of taking its Leaf EV to India, but a lack of charging options is an obstacle. According to Nissan's chief planning officer Andy Palmer, "There is no doubt electric cars are the future. The product is there, what we need is infrastructure. Charging is a big challenge." Though Nissan stopped short of saying it (this time), this could possibly mean working with Mahindra, which said it is open to collaborating with other companies concerning EVs. Learn more in this article from the Hindustan Times and know that India is rolling out a plan to encourage the production and adoption of EVs. The National Electric Mobility Mission Plan will get over $2 billion in funding, and some of that will go toward creating a charging infrastructure (you hear that, Nissan?). This is good news for EV manufacturers, India's economy and people who enjoy breathing clean air. Read more at The Financial Express.Porsche has reported a significant sales increase, part of which is due to demand for the Panamera S E-Hybrid.

See what the Chevy C7 ZR1 may be benchmarked against

One of the greatest things every Corvette has had going for it, and also one of the most re-used arguments against it, is its price-to-performance equation - long before the Nissan GT-R became the de facto Porsche 911 comparator the Corvette spent decades as Exhibit A. Depending on which side of the argument you stressed, supporters crowed about how much performance you got for how (comparatively) little, detractors carped on how little you got everywhere else in the bargain.
It appears Chevrolet is working as hard as ever to render the argument meaningless. Spy shooters at KGP captured a convocation of European birds of prey leaving the General Motors test center, and aimed at benchmarking the C7 Corvette ZR1. The road train comprised of two C7 Corvette Stingrays, a 2013 Corvette ZR1, McLaren MP4-12C, Ferrari 458 Italia, Audi R8 V10 Spyder and Porsche 911 Carrera S and it was last seen heading down the same kinked-up back roads used to hone the Corvette Stingray.
The C7-series ZR1 and its possible 700 horsepower are still a ways off. If it really is being positioned to compete with the celestial exotica in the testing group, could it be the first Corvette to regularly be the first answer to the question "Cost no object, which would would you rather have?"