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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

Next-gen Audi R8 E-Tron could have 280-mile range

Will the next hypermiling contest take place between the latest iteration of the Audi R8 E-Tron and a Tesla Model S. On paper, the single-charge range between the high- and higher-end EVs are nearly identical, so it's possible. But what fun would that be, using light pedal foot and all? Audi has released the latest specs for the R8 E-Tron, and they are just beastly. The EV will deliver 456 horsepower, have 679 pound-feet of torque and will be able to jet from 0 to 60 miles per hour in less than four seconds. More stunningly, the car will have a single-charge range of 280 miles, which is about 15 miles longer than the Model S's range. Audi says the new, long-distance pack is due to " new battery cells," but declined to go into detail. Despite the excellent numbers, not everyone thinks a new R8 E-Tron poses any threat to Tesla. Prices for the "base" version of the R8 with a gas-powered V10 engine start at 165,000 euros ($185,000), and there's no guessing yet what an EV version will cost. Whatever it is, the car's been markedly improved compared to the earlier iterations. We reported on progress of the new R8 E-Tron about a year ago that the single-charge range would climb to about 250 miles, and that the mill would deliver about 376 horsepower. Audi first showed off a concept version of the car at 2009's Frankfurt Auto Show, saying at the time that the model had a single-charge range of about 150 miles. So this is good progress. Check out Audi's rather lengthy press release below. Audi presents the new R8: The sporty spearhead just got even sharper The second generation of the high-performance sports car makes its debut in Geneva 5.2 FSI engine with up to 449 kW (610 hp), 0 to 100 km/h (62.1 mph) in 3.2 seconds New multimaterial Audi Space Frame with high proportions of aluminum and CFRP No model with the four rings is closer to motorsport, none is more striking and more dynamic: at the Geneva Motor Show, Audi is presenting the second generation of its high-performance R8 sports car. The V10 mid-engine and a newly developed quattro drive ensure breathtaking driving performance, especially in the top-of-the-range version with 449 kW (610 hp): achieving 0 to 100 km/h (62.1 mph) in just 3.2 seconds, its top speed is 330 km/h (205.1 mph).

Weekly Recap: Audi pulls back the curtain on its future

The E-Tron Quattro concept is the future of Audi. It embodies all of the traits that will make the brand – and electric-powered luxury vehicles – more relevant into the 2020s. Here's why: The E-Tron Quattro concept, which will debut next month at the Frankfurt Motor Show, is a large sport utility vehicle that promises a range of 311 miles. It's an all-electric daily driver that fits the needs of most Americans. In production – which Audi says starts in 2018 – this vehicle will seat five and likely be called the Q6. You can take your family from Boston to Philadelphia without recharging. That's mainstream. We're moving away from the industry's "science experiment" era (as General Motors product chief Mark Reuss once described the appearance of the first gen-Chevy Volt) to a period where electric vehicles are plausible and practical for many US buyers. The 2018 Q6's only holdup for the masses will be price. But if you can afford an Audi SUV, you'll be able to buy an all-electric version. The E-Tron concept uses Volkswagen Group's second-generation modular longitudinal platform. The lithium-ion battery is located between the axles and below the cabin. Urquhart says the production model will feature the automaker's latest battery technology developed with LG Chem and Samsung. IHS Automotive projects the Q6 will sell more than 40,000 units annually by the end of the decade. "The E-Tron Quattro is a precursor for what will be an exciting and landmark production model for Audi and will position the brand at the forefront of the premium EV market," IHS analyst Tim Urquhart wrote in a commentary. It's the Tesla-zation of America. It's the Tesla-zation of America. The Q6 will be a Model X fighter, and expect other automakers to follow suit, particularly in the luxury sector with SUVs and other large vehicles. They offer more space for the battery packs, and development costs can be recovered easier. "Premium brands have an inbuilt advantage in terms of introducing [electric] powertrains over more mainstream automotive brands," Urquhart wrote. OTHER NEWS & NOTES Analyst says Tesla stock could be worth $465 a share Morgan Stanley analyst Adam Jonas sent shockwaves through the industry when he said Tesla stock has the potential to reach a whopping $465 a share. That's a leap from its $230.77 price at Friday's market close.