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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

2016 Honda Civic pricing leaked, starts at $19,475

You're going to get a whole load of 2016 Honda Civic information very, very soon. As a teaser, take a look at this pricing information on Honda's latest compact sedan, leaked by the folks at the civicx.com forums. As you can see, both invoice and retail pricing is included in this dealer ordering guide, and, assuming it's all legit, it looks like Honda has done a very good job of keeping its 2016 Civic competitive with its rivals in the compact segment. At the low end, a 2016 Civic LX with a 2.0-liter four-cylinder engine and six-speed manual transmission will cost $19,475 (including an $835 destination fee). That's a $150 increase from 2015. Considering that the new car is larger and more powerful than it was last year, that small additional cost initially strikes us as reasonable. If you want an automatic, in this case a continuously variable unit paired to that same naturally aspirated base engine, you're looking at a minimum of $20,275. More good news comes in the form of the EX trim, which, at $21,875, is actually a little bit less than it was last year. Upgrading to the 1.5-liter turbocharged powerplant, which Honda promises will be the most powerful engine it has ever offered in a Civic not labeled Si, brings the asking price to $23,035. If you want leather and more bells and whistles, the Civic EX-L will start at $24,535. The Civic range tops out at $27,335 in Touring trim, assuming these leaked prices are accurate. We'll be able to confirm these prices, along with a whole heck of a lot more, on Monday morning. In other words, Civic fans, stay tuned. And get excited. Related Video: Featured Gallery 2016 Honda Civic Sedan News Source: www.civicx.com Honda Car Buying Sedan pricing

Autoblog Minute: Honda drops Takata, airbag maker fined $70M

US regulators hit Takata Corporation with a substantial fine, and Honda drops the embattled parts supplier. Autoblog's Adam Morath reports on this edition of Autoblog Minute. Show full video transcript text [00:00:00] US regulators hit Takata with a substantial fine, and Honda drops the embattled supplier. I'm Adam Morath and this is your Autoblog Minute. In the latest developments surrounding Takata's deadly airbag scandal, Transportation secretary Anthony Foxx released a statement accusing Takata of providing investigators with quote, "incomplete, inaccurate, and misleading information." Foxx also announced that a 70 million dollar fine, [00:00:30] which could grow to 200 million should Takata Corporation not meet certain conditions. The National Highway Traffic Safety Administration exercised its authority, issuing a mandate to speed up repairs citing 2019 as the deadline to fix recalled cars. Japanese automaker Honda dropped Takata in the wake of the scandal. The company said in a statement: "Honda expects its suppliers to act with integrity at all times and we are deeply troubled by this apparent behavior by one of our suppliers." We'll continue to report [00:01:00] as the story evolves. For Autoblog, I'm Adam Morath. Autoblog Minute is a short-form video news series reporting on all things automotive. Each segment offers a quick and clear picture of what's happening in the automotive industry from the perspective of Autoblog's expert editorial staff, auto executives, and industry professionals.