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Krafcik says US Gov. shutdown is slowing Oct. auto sales

The government shutdown is eroding consumer confidence in the auto market, says John Krafcik, CEO of Hyundai's US sales unit, and could lower October sales by as much as 10 percent, Automotive News reports. "It's that anxiety that keeps customers, potential buyers, on the sidelines when making a big purchase like an automobile," Krafcik says, adding that industry sales could be off by five to 10 percent in October compared to September.
The fourth quarter, which started October 1, usually consists of increased auto sales as dealerships clear their lots to make room for the next year's models. Leading up to the fourth quarter this year, the auto industry was doing well in the fragile, recovering US economy, although September deliveries decreased by 4.2 percent, due in part to this year's Labor Day sales being recorded for August.
To help its customers, Hyundai announced it is deferring new-car loan and lease payments for furloughed federal workers until they're called back to work and also offering them a three-month payment deferral if they buy a new Hyundai in October. "We have already had requests from over a thousand people to have their payments deferred," Krafcik says.

Driving the BMW M2 Competition, Honda Odyssey and Toyota RAV4 Prime | Autoblog Podcast #651

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by West Coast Editor James Riswick. This week, they talk about driving the BMW M2 Competition, Honda Odyssey and Toyota RAV4 Prime. Then they discuss James' experience testing the new Yakima CBX cargo carrier, Autoblog readers' preference for the GMC Hummer EV over the Tesla Cybertruck, and Mercedes-Benz taking a larger stake in Aston Martin. Lastly, they help James' father find a new car in the Spend My Money segment. Autoblog Podcast #651 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we're driving 2020 BMW M2 Competition 2021 Honda Odyssey 2021 Toyota RAV4 Prime Testing the Yakima CBX Cargo Carrier on the Subaru Outback 75% of Autoblog Twitter follower prefer the GMC Hummer EV over the Tesla Cybertruck Mercedes-Benz to boost stake in Aston Martin to 20%, lend it some tech Spend JamesÂ’ fatherÂ’s money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video:

Toyota gives up more information on Frankfurt-bound Yaris Hybrid-R concept

Toyota has undeniably carved out a niche for itself as the industry's leader in hybrid propulsion. What started out with the original Prius in 1997 has, over the past sixteen years, ballooned to what Toyota reports as a global hybrid portfolio of 23 models. But few (if any of them) are particularly exciting.
That's where the Yaris Hybrid-R concept comes in. Set to be showcased along with the rest of Toyota's hybrid and fuel-cell lineup at the upcoming Frankfurt Motor Show next month, the concept starts with one of the Japanese auto giant's least exciting models and upgrades it to more enticing territory. Toyota Motorsport GmbH - the same Cologne, Germany-based division that operated the company's F1 team, currently runs its Le Mans program and gave us that bonkers 650-horsepower Lexus LS - has slotted in a version of Toyota's new 1.6-liter Global Race Engine and paired it with a couple of electric motors for hybrid propulsion and through-the-road all-wheel drive.
Like the TS030 Hybrid LMP1, the Yaris Hybrid-R concept uses a super capacitor (instead of a conventional battery) to store the regenerated brake energy and give it upwards of 400 horsepower. That's about all Toyota is revealing at this point, but this is the first time it has confirmed the project is based on a Yaris, of all things, and the confirmation comes with the solitary teaser rendering you see above. Check out the press release after the jump and watch this space for more as Frankfurt fast approaches.