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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

Well hello, Carice, you Porsche-aping EV cutie

Ah, the joy that comes open-air motoring with the in your hair and the roar of the exhaust behind you. Well, maybe not as much anymore. In recent years, vehicles like the Tesla Roadster have made the concept of the electric sports car palatable. Now, Dutch automaker Carice is following suit with a classically inspired EV speedster called the MK1. The MK1 clearly wears its design inspiration on its sleeve. It would be difficult to look at this styling and not immediately see a Porsche 356 Speedster; It has the same upside-down bathtub shape with big round headlights and likely the tiniest taillights on a production car in years. The Carice is also clearly meant for fair weather motoring because there's no top, just a tonneau cover to protect the interior from the rain while it's sitting. One thing that the Dutch company is definitely getting right is the weight. It claims that the MK1 weighs a dainty 772 pounds, including the battery pack. The low weight doesn't mean the MK1 is going to be lighting quick, though. It's being offered with a choice of three electric motors with 5 horsepower (for 16-year-old drivers in the Netherlands), 20 hp or 53 hp, and there are two sizes of battery pack. Buyers can also opt for a range-extending internal combustion engine. The 53-hp motor allows for a top speed of 62 miles per hour and a 124-mile range with the larger battery. Carice says its also willing to fit larger batteries or more power motors, at the buyer's expense, of course. Carice plans to build an initial production run of 10 cars with prices starting at 22,000 euros, before Dutch taxes (about $30,000). The company hasn't released a press release about the MK1, but you can learn more about speedster on its website; it's in Dutch, though. Featured Gallery Carice MK1 View 9 Photos News Source: Carice Cars Porsche Convertible Electric Performance electric sports car porsche speedster

Porsche Classic puts modern navigation in older cars [w/video]

People drive classic vehicles for many, many reasons. Maybe it's because they're cool, or they bring back memories, or perhaps they just want to take a trip back in time, before the days of adaptive cruise control, massaging seats and satellite navigation. You know, back to when driving was about, well, driving. Someone did not mention this reasoning to Porsche, because the German company has decided to offer the tiniest, most ridiculous in-dash navigation system we've ever laid eyes on, through its Porsche Classic line. Because, you know, people don't own smartphones nowadays. In fact, most smartphones are significantly bigger than Porsche's new nav setup. The touchscreen is just 3.5 inches in size, although its graphical layout is clean and in line with the company's more modern offerings. It also integrates a new entertainment system, which adds Bluetooth connectivity and a 4x45 watt amp. The system is being offered for a wide array of vintage Porsches, ranging from the most modern, air-cooled 993s, all the way back to the earliest 911. Four-cylinder and V8 models, as well as front and mid-engine cars, can be fitted with the nav system, too. Porsche Classic has priced the new system at the frankly absurd price of 1,184 euros ($1,344 at today's rates), though we're sure a large number will indeed be sold and installed. Dedicated US pricing is still pending. Check out Porsche's rather silly video of the system in action, available alongside the full press release below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. PORSCHE CLASSIC BRINGS OUT NEW NAVIGATION RADIO FOR CLASSIC SPORTS CARS True-to-style upgrade with state-of-the-art technology Atlanta. Classic on the outside yet ultra-modern on the inside: with its newly developed navigation radio, Porsche is responding to the growing demand for a built-in device for classic sports cars. The purpose-built unit combines the style of yesteryear with the benefits of modern technology. It fits perfectly into the DIN-1 slot that has been used in the sports cars for decades and is operated by means of two knobs, six discreetly integrated buttons and a touch-sensitive 3.5-inch display. Thanks to the appearance of the black surface and the shape of the knobs, which are supplied in two authentically styled versions as standard, the navigation radio blends harmoniously into the dashboard of classic Porsche models.