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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.

This one-off Lexus RC F takes a page out of an NBA playbook

We talk about one automaker taking a page out of another's playbook – following a lead to keep up with the competition. But this one-of-a-kind Lexus actually does take a page out of a playbook. Specifically that of the Los Angeles Clippers. The unique Lexus RC F coupe features a livery inspired by the team colors and emblazoned in tone-on-tone Xs and squiggles that look like strategic doodles from the coach's notebook. The stock horn has been replaced by a shot buzzer, the dashboard clock with a game timer, basketball-patterned speaker grilles, and Clippers logos throughout. The navigation system is voiced by the team's coach Doc Rivers, and there's a makeshift locker room in the trunk packed with memorabilia. As far as special editions go, this one's actually pretty convincing. Of course it doesn't hurt to pack a 5.0-liter V8 engine good for 467 horsepower under the hood. The vehicle was created to raise funds for the Clippers Foundation, a charity associated with the basketball team that works with children in the Los Angeles area. For $100, fans can buy raffle tickets for the chance to take it home. Toyota has long been a sponsor of the team, briefly suspending its involvement in the wake of then-owner Donald Sterling's racist remarks a couple of years ago. Related Video:

Lexus in no hurry to be a big player in China

For a while now, China's spiraling wealth, population and development has had the world's luxury automakers in an expansionist fervor, with many executives exhibiting the sort of gleefully maniacal behavior historically reserved for gold-rush prospectors. Yet Toyota, of all companies, is exercising a surprising amount of caution in the Asian nation.
As The Wall Street Journal notes, Toyota's premium brand, Lexus, sold all of 64,000 vehicles in China last year, while BMW cleared its books of 326,000. In fact, it didn't even bother entering the market until 2005, while rival Audi built its first car in the market a decade and a half earlier. Even now, Lexus doesn't build any vehicles in China, and with the country's notoriously high tariffs on imports, that's a major disadvantage. Yet the business daily quotes Lexus executive vice president Mark Templin as saying that the brand is nowhere near ready to start building cars in the market. "We're not having those discussions about when we're going to go to China... We have a lot of work to do before we get to that point."
Part of that work includes establishing a more expansive dealer network - Lexus only had 99 stores as of 2012, while rival Mercedes-Benz had over two-and-a-half times as many, and it's still expanding. Adding a lot of dealers without having a goodly number of competitively priced offerings for them to sell may seem like an odd strategy, but Templin tells the WSJ that the goal is to "cultivate our image for quality and customer service and let the customers that we have go tell that story for us."