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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

Demand for electric car rentals unplugged by range anxiety

It's the hurdle that electric vehicles must clear to be launched into the mainstream: range anxiety. But this time it isn't prospective customers who worry about running out of juice, Bloomberg reports, but renters who return to car rental agencies before their lease is up and trade their EVs in for more traditional gasoline-powered autos and gas-electric hybrids.
"People are very keen to try [electric vehicles], but they will switch out of the contract part way through ... they think they can't get to a charging station," says Lee Broughton, head of sustainability at Enterprise. Enterprise customers who rent EVs reportedly trade them in 1.6 days into the rental period on average, which compares unfavorably to the six- to seven-day rental periods of traditional, fuel-burning automobiles.
Christopher Agnew, an analyst at MKM Holdings LLC, says that longer range would help rental customers' range anxiety, especially since they are usually renting vehicles in unfamiliar places.

Infiniti teases November debut of new QX55 crossover-coupe

Infiniti will officially unveil its new QX55 crossover-coupe via social media on Nov. 11, Nissan's luxury subsidiary announced early Wednesday. Infiniti is calling it a return to the segment which the company helped pioneer when it launched the FX crossover back in 2002.  "With a roofline and visual elements inspired by the iconic Infiniti FX, the QX55’s provocative design will fuse the stance and versatility of a premium midsize crossover with the sleek profile of a sports coupe," Infiniti's announcement said. "Beyond its provocative looks, the QX55 will also feature innovative technologies designed to empower, engage and connect luxury customers to the road ahead." The announcement was accompanied by the above teaser image, which depicts the QX55's tapered liftgate. It's quite a bit more conservative than the previously released design sketch suggested, but certainly looks the part.  The QX55 is one of five new vehicles Infiniti plans to launch in the next three years. It was first teased last August during Monterey Car Week. While Infiniti has been leaning heavily on the heritage of the original FX (which later became the QX70) since releasing that first design sketch, the QX55 will actually have little in common with its spiritual ancestor. While they may share fastback SUV looks, the QX55 will be based on the QX50 — a modern, front-wheel-drive crossover with small, efficient engines. The FX was derived from Infiniti's sport sedans and coupes, and even boasted a V8 option for much of its existence. Production of the new crossover-coupe was slated to begin in June, but was reportedly pushed back due to complications at its production facility in Aguascalientes, Mexico. The facility is a joint-venture project between Mercedes-Benz parent company Daimler and Nissan, and produces several other front- and all-wheel-drive vehicles for both companies.  Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.