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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

2021 Ford Mustang Mach 1 revealed, plus driving the BMW M8 Convertible | Autoblog Podcast #632

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Producer Christopher McGraw and News Editor Joel Stocksdale. Before they get to this week's big news, they talk about the cars they've been driving, including the Toyota Land Cruiser, Range Rover Velar SVAutobiography Dynamic Edition, BMW M8 Convertible and BMW 840i coupe. Then they talk about Ford's big reveal of the 2021 Mustang Mach 1. Finally, in lieu of the regular Spend My Money segment, they talk about how Joel recently spent his own money on the newest edition to his personal fleet, a 2013 Volkswagen Beetle. Autoblog Podcast #632 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we're driving: 2020 Toyota Land Cruiser 2020 Range Rover Velar SVAutobiography 2020 BMW M8 Convertible 2020 BMW 840i Fords reveals 2021 Mustang Mach 1 Spend Joel's Money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video:

Some younger drivers relish the idea of stick shifting

Part way into the 21st Century, obsolescence isn’t what it used to be, especially in the minds of younger consumers; consider the renaissance of vinyl records and film cameras. To that list, add the automobileÂ’s stick shift. Manual transmissions are no longer just about lower car purchase prices, better fuel economy or more control on the road. TheyÂ’re about being hip. At least, thatÂ’s part of the thesis offered in a recent article in The Wall Street Journal. “The 20-Somethings Fueling a Stick-Shift Renaissance”  examines a modest but real resurgence in the sales upticks of manual-equipped cars, and focuses on the enthusiasm of younger people to acquire them, and the challenges—no longer so challenging—of learning bow to drive them. But, as readers of Autoblog have learned in recent years,, the future of manuals, as author Rachel Wolfe succinctly points out in the Journal piece, is essentially doomed in the longer term. Blame the electric vehicle. She writes that car makers sold 43 different manual models in 2022, according to J.D. Power, compared with 69 in 2019. “While a few EVs do have more than one gear,” she says, “auto makers are still figuring out how to translate the experience of maneuvering a manual to their electric car lineups. ‘’ Did we mention “doomed”? But Ms. Wolfe does offer some positivity. “MINI just opened a manual driving school of its own at the BMW Performance Center in Thermal, Calif.,” she writes. “A January company survey of just over 1,000 drivers found that two-thirds of 18-to-34-year-olds are eager to learn how to drive a manual, versus 40% of older respondents who donÂ’t already drive stick.” The author quotes a couple of drivers who became enamored of manuals, including a teenager from Ohio who took his driving test with a manual. “I thought it was cool to learn how to drive on a stick, just because I could tell my friends that I was a better driver than them,” he says. She also visits the other side of the issue, talking to a 24-year-old, who said that she found the stick “cool,” but only until “her leg grew sore from the clutch as she navigated traffic commuting back and forth from law school every day in Tampa, Fla.  ‘I think they are very fun to drive for about two hours, and then youÂ’re like, OK, I would like to put it away and just drive like a normal person again.’’” The full article is available online here.