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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

Honda expands Takata recall for older CR-Vs

Honda has added another 127,000 bad Takata airbag inflators to its growing recall. This latest round affects 2003 and 2004 CR-V crossovers and brings Honda's total inflator tally to 3.4 million units. This marks the first time that the 2004 CR-V has been included in the airbag recall. Repairs will be conducted free of charge, and Honda notes that "it has sufficient replacement parts supplies to begin recall repairs of the added vehicles immediately, nationwide." The company's recall repair is nearly half complete, with 47.1 percent of the bad inflators replaced across the US. "American Honda continues to urge owners of Honda and Acura vehicles affected by the Takata airbag inflator recalls to get their vehicles repaired at authorized dealers as soon as possible," the company said in the attached statement. "Vehicle owners can check their vehicles' recall status at www.recalls.honda.com for Honda owners or www.recalls.acura.com for Acura owners or by calling their authorized dealer." Read on for the official release. Statement by American Honda Regarding Expansion of Nationwide Recall of Certain Takata Passenger Front Airbag Inflators Dec 23, 2015 - TORRANCE, Calif. Nationwide recall of passenger front airbag inflators expands to include approximately 127,000 inflators in 2003-2004 CR-V vehicles not previously subject to recall or safety improvement campaign No change to national recall of driver front airbag inflators Honda's national Takata airbag inflator recall repair completion rate is 47.1% Honda announced today that it will expand a national recall (15V-370) to replace, free of charge, Takata passenger front airbag inflators installed in certain 2003-2004 CR-V models sold in the United States following a recent defect determination by Takata, the airbag inflator supplier. This expansion will add approximately 127,000 passenger front airbag inflators not previously subject to either a recall or safety improvement campaign. Approximately 78,000 of the affected 2003-2004 CR-V vehicles included in existing passenger front airbag inflator recalls and Honda's voluntary safety improvement campaigns (14V-353 and 14V-700) will also transition into the new recall. The same free repair - replacement of the passenger front airbag inflator - will be completed under the new national action. This updated recall (15V-370) now includes approximately 3.4 million passenger front airbag inflators now requiring replacement in this action.

Kayaba, Sumitomo to pay millions for price-fixing in US

Kayaba Industry Co, which does business in the US as suspension parts maker KYB, and Sumitomo Electric Industries are facing payments in the millions to settle price-fixing cases about the components that they make. As part of the Department of Justice's ongoing crackdown of price fixing in the auto industry, KYB agreed to pay $62 million and pleaded guilty to conspiracy to set the cost of shock absorbers from the mid '90s through 2012. The company allegedly worked with co-conspirators to keep the cost of the parts high, and those components then made it into vehicles from Honda, Kawasaki, Nissan, Subaru, Suzuki, and Toyota. "Any collusive agreement among competitors to restrict price competition undercuts our free enterprise system and violates the law," said Carter M. Stewart, US Attorney of the Southern District of Ohio, in the DoJ's announcement. Over the past few years, the DoJ has brought cases against 37 parts suppliers and 55 executives, leading to over $2.6 billion in fines. The investigations haven't always been so successful – some of the Japanese execs fled from the US to avoid prosecution. Critics allege that price fixing is simply how business is done. According to Automotive News, Sumitomo Electric Industries is also facing a $50 million settlement in a civil lawsuit that's related to price fixing of parts like wiring harnesses and heater control panels. The plaintiffs include owners and dealers that purchased vehicles with these parts. The company asserts that the violations are from before 2010, and it now has different process in place to avoid further violations. KYB Agrees to Plead Guilty and Pay $62 Million Criminal Fine for Fixing Price of Shock Absorbers Kayaba Industry Co. Ltd., dba KYB Corporation (KYB) has agreed to plead guilty and to pay a $62 million criminal fine for its role in a conspiracy to fix the price of shock absorbers installed in cars and motorcycles sold to U.S. consumers. According to charges filed today, KYB conspired from the mid-1990s until 2012 to fix the prices of shock absorbers sold to Fuji Heavy Industries Ltd. (manufacturer of Subaru vehicles), Honda Motor Co. Ltd., Kawasaki Heavy Industries Ltd., Nissan Motor Company Ltd., Suzuki Motor Corporation and Toyota Motor Company, including their subsidiaries in the United States.