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Toyota Camry incentives and fleet sales cranked to keep sales crown, insiders worried

We've been watching for some time now as Toyota has piled more incentives on the hood of its Camry sedan, and Automotive News reports that the we're not the only ones with raised eyebrows. The current Camry hasn't even been on the market for two years, but the family sedan segment is more hotly contested than it has been in years. It's that high level of competition that has led the automaker to uncharacteristically add more money on the hood in order to assure it maintains its long-held title of America's Best-Selling Car, a mantle it has owned for a dozen years. It's ramping up fleet sales, too.
According to the analysts at TrueCar, Toyota has bumped incentives per unit every month this year, now totaling some $2,750 as of May, a 38-percent hike over this time last year. That's more spiff money than the segment's other best sellers, the Nissan Altima ($2,400), Ford Fusion ($2,300) and Honda Accord ($1,400), all of whom have actually decreased their incentive spend by 20- to 40-percent over the same period.
The ramp up in incentive spending and fleet sales has analysts concerned that Toyota will tarnish the Camry's historically sterling resale value. ALG pegs the 2013 Camry's current 36-month residual value at 54.4 percent, well ahead of the segment average's 50.9 percent (but shy of the Accord's 55.6 percent). However, analysts are concerned that as the current generation ages, their resale values will eventually plummet if incentives continue to increase as Toyota looks to keep the Camry's best-selling car crown going forward.

Recharge Wrap-up: BMW i8 Futurism Edition, Tesla picks Hankook for Model 3

BMW Italia has created a special edition BMW i8 to celebrate 50 years of the German automaker in Italy. The BMW i8 Futurism Edition, made in partnership with Garage Italia Customs, replicates artist Giacomo Balla's "Lampada ad Arco" on the car. The special edition i8 will take part in the 2016 Mille Miglia, following a BMW 328 driven by BMW Italia President and CEO Sergio Solero. The car "represents the pairing of a sports car of the future with Italian creativity and art," says Solero. See how it was made in the video above, and read more in the press release below. The Toyota Mobility Foundation has joined the New Cities Foundation (NCF) as a Global Strategic Member. The organizations will work together on research and initiatives to improve lives through better mobility. Toyota Group Vice President and Chief Diversity Officer Latondra Newton will serve on the NCF's Board of Trustees. "Our expanded partnership with New Cities Foundation will allow us to advance our work by joining a global network of leaders who are focused on solving the most pressing challenges to cities around the world," says Newton. Read more from Toyota. Electric bus manufacturer Proterra has created a simulator to help fleet managers assess the benefits of using EVs. The Proterra EV Simulator allows for a comparison of its electric buses alongside diesel, CNG, and hybrid buses on specific routes within a transit system. It uses Google Maps plus data and algorithms from two million miles of real-world driving to compare costs, performance, and environmental benefits, taking into account variables like routes, local temperatures, and passenger loads. Proterra will display the simulator at the American Public Transportation Association Bus and Paratransit Conference on May 17. Read more from Proterra. Tesla has chosen Hankook as the tire supplier for its upcoming Model 3 EV. According to Korean network Arirang News, Tesla chose Hankook after sampling various offerings from companies around the globe. Hankook will build the tires specifically for the Model 3 with the goal of minimizing driving range losses. The value of the contract has not been disclosed. See more from Arirang News, and read more at Teslarati. BMW Italia and Garage Italia Customs present the BMW i8 Futurism Edition. The initiative is part of the 50th anniversary celebration of BMW history in Italy.

How to fix a $4,000 hybrid battery problem with vinegar and baking soda

This is one of those 'Don't try this at home if you don't know what you're doing' DIY tales. Two weeks after imgur user "scoodidabop" bought a used Toyota Camry Hybrid with no warranty, he got the Christmas Tree dash display with warnings like "Check VSC System," "Check Hybrid System," and the Check Engine light. After some Internet sleuthing he figured it could be a faulty brake actuator, assuming the hybrid system warning was a false alarm. But it wasn't the actuator, it was the battery, a Toyota dealer telling him that his battery had "gone bad," and he'd need $4,457 to replace it. Then he had a brainstorm: it could be one of the cells that's gone bad, not the whole battery. Scoodidabop has some experience as an electrician, so he figured he could test it and replace any bad cells for about $45 apiece. He removed the battery unit from the trunk and over the course of two hours tested all 68 cells four times. He found nothing wrong. So he devised another type of test and checked every cell again. He couldn't find a problem with any of them. Turns out the problem wasn't in the cells, but with the dirty and corroded copper connectors at the ends of the high-voltage cables. He pulled the 34 connectors and their steel nuts, soaked them in vinegar, gave them a light steel wool scrub, soaked them in baking soda and water to counteract the vinegar, applied an anticorrosive and reinstalled them. That took an hour. When he replaced the battery, the warning lights had all gone out and the battery worked perfectly. Skill level: experience. Cost: less than $10. Perhaps it's time for hybrids to be able to test their own cells individually. Dealers, too.