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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 Civic Tourer to debut at Frankfurt

Honda will be bringing its new Civic Tourer to next month's Frankfurt Motor Show, just as we predicted in our spy shots of the new MPV from back in April. The new model, which will arrive in European dealers in 2014, will be built alongside Honda's Euro-spec Civic hatchback, Jazz (Honda Fit) and CR-V in Swindon, Wiltshire, UK.
Honda first hinted at the Civic Tourer with a concept at the 2013 Geneva Motor Show, which is set to do battle with the Toyota Auris and Volkswagen Golf in the European market. The production Civic Tourer will also be shown alongside a refreshed Civic hatchback, yet another NSX Concept variant, a McLaren MP4/4 Formula One car, and Honda's World Touring Car Championship Civic.

Recharge Wrap-up: 2015 Honda CR-Z now on sale, Daimler and Linde building hydrogen stations in Germany

The 2015 Honda CR-Z hybrid is now available at dealerships, for slightly more money. The CR-Z starts at an MSRP of $20,145 (plus $790 in destination charges), up from the $19,995 price of the 2014 model. For those who don't want to row their own gears with the six-speed manual transmission, the available CVT adds an extra $650 to the price, but also offers better fuel economy, especially in the city. The manual-equipped CR-Z gets 31 mpg city/38 highway/34 combined, while the CVT version is rated at 36/39/37 mpg. The 1.5-liter engine and electric motor provide a combined peak 130 horsepower. The manual CR-Z offers 140 pound-feet of torque, with the CVT version providing 127 pound-feet. Customers can also soup up their new CR-Z with upgrades (including a supercharger) from Honda Performance Development. Learn more in the press release below. Daimler and Linde are teaming up to build hydrogen fueling stations in Germany. The automaker and gases and engineering company, with the help of a few oil and gas companies, plan to install 13 new stations by the end of 2015. The installations precede a push by Daimler to get more fuel cell vehicles on the road. "From 2017, we are planning to bring competitively priced fuel-cell vehicles to market," says Daimler's Herbert Kohler. "So now is the time to build a nationwide fuelling infrastructure." Linde will supply the stations with fully renewable hydrogen. Read more in the press release below. In 1899, an EV set a world landspeed record, and Wired has revisited the story with a nice look back at the "La Jamais Contente" and its driver, Belgian engineer Camille Jenatzy. Jenatzy built an electric car to race in a hillclimb, which he won while clocking a top speed of 17 miles per hour (measured the old-timey way - without radar guns). Just a few weeks later, another man set a landspeed record of 32 miles per hour, beginning a back-and-forth series of setting new records. Then, on April 29, 1899, "The Red Devil," as Jenatzy became known as, surpassed 100 kph (62 mph) when his torpedo-shaped electric car set a record of 65.8 mph. It was powered by two 25-kilowatt electric motors. Read the whole story over at Wired.