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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

Audi TT Sportback Concept evolves the five-door breed

One week after a leaked sketch ran on these very pages, Audi has introduced the latest member of a "potential TT family," according to Audi board member Dr. Ulrich Hackenberg. This is the TT Sportback Concept, a five-door, 400-horsepower version of the brand's stylish sports car and at this point, it looks darn likely to herald the debut of a third body style for Audi's design icon.
Unveiled at the expansive Volkswagen group night celebration ahead of the 2014 Paris Motor Show, the TT Sportback Concept is the most evolved version of a form factor that's seen a slow striptease throughout 2014, first with the Allroad Shooting Brake Concept in Detroit and, more recently, in the Offroad Concept from the Beijing Motor Show.
For Paris, the car being shown by Audi is absent traditional concept car traits like oversized wheels, miniscule mirrors and bizarre interior treatments, giving it a far more production ready appearance than either of the previous TT-based concepts. The exterior, meanwhile, is clearly reminiscent of the third-generation car (that roofline is pure TT), although there are a number of styling decisions that remind us of the compact A3, particularly in regards to the taillights.

2014 Audi R8 V10 Plus

Ignore the naysayers who say the Audi R8 is too refined to be a proper supercar, or that it has begun to show its age - after a few tweaks for the 2014 model year, the automaker's flagship remains one of my favorite exotics.
Audi has treated all of its R8 models to a host of enhancements for the 2014 model year that include new LED headlights and tail lamps, larger steering wheel-mounted shift paddles, new exhaust finishes, updated alloy wheel designs and fresh exterior colors. However, the most significant news is the arrival of a proper seven-speed S-Tronic dual-clutch automatic transmission (it replaces the six-speed R-Tronic). The rapid-fire gearbox shaves a coupe tenths off the 0-60 sprint and improves fuel economy for both the eight- and ten-cylinder models (thankfully, a traditional six-speed manual is still on the order form).
I recently spent time with the new-for-2014 V10 Plus model, which is only available in a coupe body style. Compared to the standard V10 models, the Plus sheds upwards of 130 pounds thanks to lightweight manual seats (not fitted to my test car), carbon-ceramic brakes, reduced sound bay insulation, a smaller fuel tank and an assortment of carbon-fiber pieces (including side blades, front splitter, rear diffuser and spoiler). But that's not all, as the V10 Plus also receives a bump in output that pushes its ten-cylinder to an even 550 horsepower.