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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

BMW Motorrad showcases Konzept eRR electric sport bike

At one end of the BMW spectrum are its electric vehicles like the i3 and i8. At the other, the motorcycles from BMW Motorrad. Now the Bavarian manufacturer is bringing those two areas of competence together in one vehicle. And it only has two weels. It's called the eRR, and it's an experimental electric motorcycle created in conjunction with the Technical University of Munich. It's based on the frame of the S 1000 RR sport bike, but ditches the 199-horsepower four-cylinder liter engine for an all-electric powertrain. Unfortunately, the company has yet to release any technical details, but promises it will do so at a later date. It's not the first time BMW Motorrad has tinkered with electric power. We've already seen the C Evolution electric scooter. But this is the first time it has packaged an electric motor into a sport bike this aggressive. If BMW were actually to build this thing, the eRR could prove a suitable foil to the Brammo/Victory Empulse, not to mention any other electric motorcycle that may find its way onto market in the coming years. BMW Motorrad presents the experimental vehicle eRR. Supersport dynamism and zero emission thanks to electric power. Munich. BMW Motorrad has a long tradition in pointing out new ways and thoughts for the topic „mobility on two wheels". For that, again and again many studies were presented in the past giving views to the future. The experimental vehicle eRR, created as a project with the Technical University of Munich, embodies an idea of an electric powered supersport motorcycle made by BMW Motorrad. Already a couple of years ago, BMW i showed the BMW Group's visionary and sustainable approach with the vehicles BMW i3 and i8 and their revolutionary design principles (aluminum chassis and passenger cabin made from carbon fibre) and BMW Motorrad's C evolution proved, that zero emission, riding fun and practicability do not exclude themselves. With presenting the experimental vehicle eRR BMW Motorrad goes one step forward and shows the possibilities of an all-electric drive in a supersport motorcycle. Regarding design and chassis technology the eRR leans on the supersport motorcycle S 1000 RR, however using an all-electric drive. Stephan Schaller, Head of BMW Motorrad, emphasizes: „Since their market launch, the RR is giving the creeps to motorsport athletes. If acceleration, handling or topspeed – the RR is setting standards.

Daimler, BMW, Audi consortium nabs Nokia maps for $2.72B

A consortium of German automakers made up of Daimler, BMW, and Audi has reportedly banded together to buy Nokia's Here mapping division for the equivalent of about $2.7 billion. The particulars of the deal aren't yet official but could be announced at the end of July. Reuters claims that this info comes from anonymous insiders speaking to Manager Magazin in Germany. It might be too soon, however, to declare a buyer. Reuters also spoke to two other insiders, and they said that no deal has been completed yet. None of the firms involved has officially spoken about the negotiations. Some of the other bidders for the division have reportedly bowed out. Here is a high-definition digital mapping company that controls about 70 percent of the auto market. The company has a fleet of vehicles with cameras and LIDAR (pictured above) to generate all of the necessary information. It also partners with trucking companies to use their GPS data. Nokia started looking for potential buyers for Here earlier this year. Tech giants that reportedly included Uber and Apple were rumored to be interested, while German automakers also teamed up to submit a joint bid in part to protect their access to the maps. On paper, Here is only valued at around $785 million, but a sale in the billions now seems assured. Related Video: News Source: ReutersImage Credit: Nokia Here Earnings/Financials Audi BMW Technology here nokia here