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Krafcik says US Gov. shutdown is slowing Oct. auto sales

The government shutdown is eroding consumer confidence in the auto market, says John Krafcik, CEO of Hyundai's US sales unit, and could lower October sales by as much as 10 percent, Automotive News reports. "It's that anxiety that keeps customers, potential buyers, on the sidelines when making a big purchase like an automobile," Krafcik says, adding that industry sales could be off by five to 10 percent in October compared to September.
The fourth quarter, which started October 1, usually consists of increased auto sales as dealerships clear their lots to make room for the next year's models. Leading up to the fourth quarter this year, the auto industry was doing well in the fragile, recovering US economy, although September deliveries decreased by 4.2 percent, due in part to this year's Labor Day sales being recorded for August.
To help its customers, Hyundai announced it is deferring new-car loan and lease payments for furloughed federal workers until they're called back to work and also offering them a three-month payment deferral if they buy a new Hyundai in October. "We have already had requests from over a thousand people to have their payments deferred," Krafcik says.

Lexus IS named Esquire Car of the Year

Esquire holds an annual car of the year award, and for the past four years, only American or German autos, such as the Cadillac ATS and the Audi S4, have earned the publication's top pick. But for 2013, the top pick is from Japan: the 2014 Lexus IS350 F Sport. The publication calls the IS "thrilling first, responsible second."
Upon learning the top pick, we had to make sure we were still reading about a Lexus, though we admit the new IS350 F Sport is indeed a new breed, one that approaches BMW 3 Series levels of performance and handling while maintaining its Japanese identity.
Esquire appreciates the F Sport's new direction, but says, "Crucially, unlike everything else, it's not trying to be the BMW." It claims the 2013 car of the year is an "honest, gutsy, fast set of wheels."

Lexus LC Convertible Concept is likely headed for production

The Lexus LC works quite well as a stunning halo car for the Japanese brand, and we're big fans of the coupe's design, both inside and out. So we're excited by the prospect of the car you see above, which Lexus will officially unveil in just a few days at the 2019 Detroit Auto Show. As it sits, the Lexus LC Convertible is a concept vehicle, but judging by statements from company executives, production is practically a foregone conclusion. "This concept takes the unmistakable design of the LC coupe and reimagines it as a future convertible," Tadao Mori, chief designer of the LC Convertible concept, hints in the press release that accompanied this announcement. He adds, "A production version of this concept would be exhilarating in many different ways." Even if this concept is little more than an LC Coupe with its roof lopped off, the result is still very pretty. The droptop sits low to the ground on 22-inch wheels. Inside, elegant white leather dramatically contrasts with yellow stitching and dark-colored trimmings. The automaker isn't saying what's under the hood, but we'd guess a production version would offer both gasoline-fueled and hybridized powertrains similar to the coupe. Stay tuned for live images from the show floor in Detroit. Related Video: