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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

More powerful 2017 Toyota 86 takes over for the Scion FR-S

Scion is dead, and the FR-S name passes away with it. The rear-wheel-drive sports coupe isn't gone, though, because it's now the the 2017 Toyota 86. To match the new moniker, the latest model finally has a little extra power and more aggressive styling. The public debut will take place at next week's New York Auto Show, and sales begin this fall. "When we announced the transition of the Scion models to Toyota we hadn't planned on changing the names of our cars, but by popular demand, for our sports car, we decided to adopt the global name of 86," said Toyota Division Group Vice President Bill Fay. The 2.0-liter boxer-four's output grows to 205 horsepower and 156 pound-feet of torque – increases of 5 hp and 5 lb-ft – on manual-transmission models. The 86 still isn't the turbocharged rear-wheel-drive coupe of some people's dreams, but at least this is an improvement. (Buyers who opt for the automatic will have to make do with less power and fewer pedals.) Toyota also promises "additional performance" thanks to different gear ratios for the six-speed manual transmission, and there's now Hill Start Assist Control. New shock tuning and spring rates will affect the handling, too. The 86 wears a meaner look than the outgoing FR-S. The biggest change is a new front bumper with a large intake that stretches across the coupe's width, and the two sharp points along the bottom look like teeth ready to chomp down. Toyota also replaces the headlights and taillights with LED units. The twist-spoke wheels are a great accompaniment to the more aggressive look, too. The tweaks are more modest inside, including silver stitching and new materials for the dashboard and doors. Toyota will also display the C-HR crossover concept again in the Big Apple. We won't see the production version until later this year, and sales won't begin until spring 2017 as a 2018 model. Related Video: Toyota to 86 the FR-S Name New Toyota 86 and Charismatic C-HR Concept on Display at New York Auto Show TORRANCE, Calif., March 17, 2016 – With its new home comes a new name and more. The former Scion FR-S will debut as the 2017 Toyota 86 at the New York International Auto Show with interior and exterior changes, as well as suspension and powertrain upgrades. The new Toyota 86 will go on sale at all Toyota dealerships this fall.

Weekly Recap: An '80s encore in the auto world

The '80s returned in a big way this week, as National Lampoon's, Ghostbusters, Miami Vice, and even Tetris were back in the news. While there were far more serious topics (see below), nostalgia mingled with modern marketing to put these Reagan-era favorites back in the spotlight. The '80s were alternately cold and corny at times, but their cultural touchstones can still generate big money. That's why Infiniti recreated an iconic scene from National Lampoon's Vacation (1983) for an advertisement that hawks the QX60 crossover. Actor Ethan Embry, who played Rusty Griswold in a later Lampoon's movie, pilots the Infiniti – which is serving as a modern Family Truckster – for a trip to Walley World. A blonde pulls alongside in a red Lamborghini. They flirt, and she drives on. Christie Brinkley, who played the original girl in the red sports car (she drove a Ferrari in the '83 flick), is riding shotgun and chides Embry with: "A blonde. In a convertible. Seriously?" Okay, it's hardly on the level of "here's looking at you," or even "you can't handle the truth," but it should resonate with '80s babies, many of whom are now having children of their own and moving into three-row SUVs like the QX60. Naturally, Hollywood is going back to the well, too, with a Vacation remake that premiers July 29. Meanwhile, Ghostbusters is returning next year, and director Paul Feig offered a peak at the new Eco-1 in this tweet. In the 1984 classic, the team drove a modified 1959 Cadillac. Now, it will drive a late '80s Cadillac. As expected, the announcement generated support and controversy from movie and car enthusiasts. His tweet had generated several thousand retweets and favorites in the days following the news. Though the '80s Caddy looks, uh, less elegant in comparison to the now-iconic fins and curves of the original Ecto-1, it's about the same time lapse into the past as the '59 Caddy was to viewers in 1984. Speaking of 1984, Miami Vice, which debuted that year on NBC, is seeing one of its hero cars hit the auction block, Mecum Auctions announced this week. The 1986 Ferrari used on the show will be offered for sale Aug. 15 during Monterey classic car week. The white supercar runs a 390-hp flat 12-cylinder engine paired with a five-speed manual transmission and was in storage after the show ended in 1989 until earlier this year. It has 16,124 miles on the odometer and is authenticated by Ferrari North America and Classiche.