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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

New Prius, Bentley Bentyaga, Rolls-Royce Dawn | Autoblog Minute

Bentley and Rolls-Royce introduce new luxury vehicles and Toyota revealed its latest Prius. Autoblog Senior editor Greg Migliore reports on the Weekly Recap edition of Autoblog Minute. Bentley Rolls-Royce Toyota Convertible SUV Hybrid Autoblog Minute Videos Original Video bentley bentayga rolls-royce dawn

BMW i5 could get Toyota-sourced hydrogen power

It's starting to feel like the automotive landscape is right on the cusp of a boom in hydrogen-fueled vehicles. After all, the Toyota FCV is nearly ready, Volkswagen is readying a fuel cell concept for this week's Los Angeles Auto Show and Hyundai already sells its Tucson Fuel Cell. The next big name to add to that list might be BMW, as the company's co-development deal with Toyota starts to bear fruit.
According to Autocar, BMW may use a version of the fuel cell system from the Toyota FCV in the future i5. As part of its eco-oriented i sub-brand, the i5 is expected to be a stretched version of the i3 (pictured above) with extra rear legroom and cargo space. It's unclear at the moment whether a battery-powered pure electric powertrain will also be available. If accurate, then the rumor could give the Bavarian brand a counterattack against Mercedes-Benz' planned fuel cell vehicle in 2017.
BMW and Toyota first signed the memorandum of understanding to co-develop fuel cells, lightweight technology and a sports car back in 2012, and they made the arrangement official in late 2013. So far, few details on the progress of the work have been disclosed, but the performance model has been rumored to use a front-engine, all-wheel drive layout with supercapacitors.