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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

2022 VW GTI, Golf R and Ford's electric future | Autoblog Podcast #680

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Road Test Editor Zac Palmer. They start off discussing their drives in the 2022 VW GTI and 2022 VW Golf R. They then discuss the news, which is jam-packed this week. The Mazda6 and CX-3 are going away, and Alfa is reportedly mulling a new GTV and Duetto. Plus, Ford teased an electric Bronco, confirmed a future electric Explorer and fully revealed the work truck version of the 2022 F-150 Lightning named the "Pro." They end by turning to the mailbag and responding to another listener's Spend My Money question. Autoblog Podcast #680 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 2022 Volkswagen GTI 2022 Volkswagen Golf R News Mazda6 and Mazda CX-3 officially discontinued for 2022 Alfa Romeo's new CEO sees room to bring back the GTV and the Duetto Electric Ford Bronco could be coming, electric Explorer is confirmed F-150 Lightning Pro revealed as Ford's sub-$40K electric work truck Opinion We need to legalize adaptive driving beams already, for safety's sake Mailbag Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related Video: Podcasts Alfa Romeo Ford Mazda Porsche Volkswagen Hatchback Performance

Porsche Mission E Concept puts Tesla Model S in its sights [w/video] [UPDATE]

UPDATE: The Mission E might not top the Tesla in driving distance after all. The Porsche's nearly 311-mile range is on the European testing cycle, but the original story compares it to Teslas on the US evaluation. According to Tesla, a Model S 85D is rated at the equivalent of 328 miles in Europe, and the P85D is at 305 miles. The new 90 kWh battery can add an additional six percent to those figures. Porsche might not be saying it directly, but anyone taking even a quick glance can see the Germans are taking aim at Tesla with the freshly unveiled Mission E concept at the Frankfurt Motor Show. With over 590 horsepower, this electric sedan doesn't have quite as much electric grunt as a Model S, but the claimed 310.7 miles of range would outdo even the latest take on Elon Musk's four-door with a 90 kWh battery. For those keeping track, a Ludicrous Speed-equipped Tesla might still be the ultimate victor in a drag race because the E's sprint to 62 takes "under 3.5 seconds." To power the Mission E, Porsche's engineers use two permanent magnet synchronous motors, and they are similar to what's found on the company's 919 Hybrid LMP1 racecar. In a single unit, the devices can both accelerate and recover braking energy. All-wheel drive with torque vectoring and four-wheel steering help the electric sedan lap the Nordschleife in less than eight minutes, the company claims. Capable of hitting 124 mph in less than 12 seconds, the Mission E is undoubtedly quick, but its speed in charging is especially impressive too. The concept utilizes an 800-volt system that Porsche claims can charge the sedan to 80 percent in just 15 minutes, assuming you can find a source for that much energy. That would be enough to offer about 249 miles of range in less time than getting a cup of coffee at a busy Starbucks. The E could also use a traditional 400-volt charger or power up inductively. The Mission E's design looks like a futuristic Panamera as filtered through the style of the 918 and a next-gen Star Wars Stormtrooper helmet. In an especially cool touch, the charging port is hidden in a movable panel ahead of the driver's door on the front fender. Also, like like lots of four-door concepts in recent memory, the design sports suicide doors with no B-pillars. To keep weight to a minimum, the body mixes aluminum, steel, and carbon-fiber reinforced polymer. Also present are carbon-fiber wheels.