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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

The 2022 Subaru BRZ and Toyota GR 86 aftermarket upgrader's guide

When you own an enthusiast car, there are few events more nerve-wracking than the introduction of its successor. Should you upgrade? Is it worthwhile? What will it cost you to part out your mods and trade up? Well, there's good news for owners of the outgoing Scion FR-S, Toyota 86 and Subaru BRZ who are considering an upgrade: You might not have to start with a clean slate.  If you’re an owner (or even a casual fan) of the Subaru BRZ/Toyota 86 family of sports coupes, youÂ’re probably already aware that the 2022 models are more like aggressive overhauls than true, ground-up redesigns. Neither company really wants to put a spotlight on the fact that their coupes are a little less "all-new" and a little more "back and better than ever," but in our opinion, this is something Subaru and Toyota should embrace.  Why? In a word: continuity. Look no further than the NA (1989-1997) and NB (1999-2005) Mazda Miata. While they are regarded as distinct generations (the NA defined by its pop-up headlights and simpler lines; the NB by its fixed lamps and swoopier styling) and were offered with different equipment packages, the fundamental underlying chassis remained relatively unchanged. This meant that, in many cases at least, buyers could trade up to a new model but bring along some of their factory and aftermarket accessories because theyÂ’d still fit. The BRZ and GR 86 are meant to be fairly bare-bones vehicles, the idea being that they appeal to those who want limited frills at a low cost and those who prefer to view cars as canvases rather than finished masterpieces. A long-running platform makes an excellent candidate for the latter type of car buyer. So, what does that mean for the 2022 BRZ and GR 86? Well, let's break it down by whatÂ’s truly new, whatÂ’s kind-of-new, and whatÂ’s essentially carry-over, with some guidance from Subaru and Toyota engineers.  2022 Subaru BRZ blue action profile View 22 Photos Spankin' new LetÂ’s start with the obvious: the styling. Even if you can find older aftermarket appearance kits that will fit the new BRZ and GR 86 on paper, they probably wonÂ’t bolt up nicely to the new cars due to their sleek new exterior designs. Wings and spoilers might still bolt up, but donÂ’t count on it, and theyÂ’ll probably look disjointed at best anyway.

Toyota reports huge quarterly profit increase, raises forecast for the year

Toyota isn't just the world's largest automaker - so far its the biggest winner for quarterly profits. With an enormous $5.5 billion take during Q2, Toyota took advantage of the weak Japanese yen and strong US demand to record a 94-percent improvement in profit over the same period from last year. So far, Toyota brought in larger profits than Ford and General Motors combined.
Toyota is showing no signs of slowing down either, as it has bumped up its forecast for full-year global production, going from 9.94 million to 10.12 million vehicles, on the back of a 13-percent drop in the buying power of the Japanese yen versus the US dollar. That strong exchange rate is largely responsible for Toyota's big jump in profits, although it also managed to shift 1.3 million vehicles in the US market this year. Strong Camry sales have also helped. But while Toyota is raking in the cash, it actually saw a small drop in market share, down 0.1 percent to 14.3 percent of the US market.
As is the case with most automakers, Toyota seems flummoxed by Europe, where it recorded less than one percent of its revenue. Still, as Automotive News points out, Toyota only maintains a 4.5-percent market share in Europe and is far less dependent on the continent than other manufacturers. Toyota also struggled at home, much like Honda. With 525,777 units sold, JDM sales were down almost 51,000 units, although Toyota still saw its operating profit jump from $3.5 billion to $4.6 billion.