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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

Honda reveals XR-V crossover in Chengdu

Global automakers have been moving largely towards global products, but that doesn't mean it can't tweak them for local tastes. Take Honda, for example, and its new compact crossover. Unveiled late last year as the Vezel, the crossover is expected to arrive in Europe and North America as the HR-V. But in China, it's being called the XR-V and adopts the form you see here.
Presented by Dongfeng Honda at the Chengdu Motor Show, the new XR-V is based closely on the Vezel but adopts some unique bodywork for a more rugged look. The front end gets a more SUV-like grille and bumper, while the side flanks are less swoopy but with more muscular wheel arches. The result may not be as bonkers as the Mugen version that debut at the Tokyo Auto Salon tuner show, but reminds us more of the similarly named and ruggedized Subaru XV Crosstrek.
Though technically billed as a concept, the Chinese-market XR-V looks just about ready for production as it is. Both 1.5- and 1.8-liter engines are specified, and while there may not be a wealth of other details available, you can read what there is in the press release (presented in original and translated forms) below.

Honda to lead Rose Parade with hybrid tech

What are you doing New Year's Day? We're probably going to watch Urban Meyer's retirement bash the Rose Bowl, but we love a nice parade, too. To kick the day off, Honda will be leading the 130th Rose Parade with its own float, an Insight hybrid and an Acura RDX crossover. Not only will Honda be celebrating the new year, it'll also celebrate its 60th anniversary in the U.S. As such, the main float will be shaped like a 25-foot-tall birthday cake. And 60 band members from the historically black colleges and universities' marching bands — which recently took part in a battle of the bands sponsored by Honda — will represent the candles on the cake. It'll also be decorated to re-create the look of the automaker's first storefront in Los Angeles. The float will be called "Celebration of Dreams," a fitting title for a company whose founder Soichiro Honda famously said, "The day I stop dreaming is the day I die." (The first thing you see when entering the amazing Honda Collection Hall at Twin Ring Motegi is a large, circular glass sculpture with the word "Dream" and Soichiro Honda's signature). For the parade, the Honda Insight will serve as the official pace car, while the Acura RDX will play the role of sound car. The float itself will be propelled by a modified Honda hybrid powertrain. The main float will be flanked by five "satellite" floats, each representing facets of the company. These will include a Honda Super Cub motorbike; a floral representation of a 1975 Civic CVCC; a float with crash test dummies and an arch with five stars to represent safety; a Honda Accord, which is built in the U.S.; and a float incorporating elements from the HondaJet to represent the future. The Rose Parade broadcast begins bright and early at 8 a.m. Pacific on Jan. 1. Check out the rendering at the top of the page to get a sense of what to expect. Related Video: