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10% of Toyota China dealers may drop due to losses

News about the auto industry in China is usually positive thanks to booming sales and an ever-increasing number of factories across the country. But in some cases, it appears that the dealers with the job of actually selling all of those vehicles are having trouble finding buyers. The result is cars piling up on lots and showrooms resisting against automakers. Japanese automakers already face a tough road to success in China, but the FAW-Toyota joint venture is especially struggling this year. According to Bloomberg, as many as 10 percent of the dealers might have to close or stop selling the brand because they just can't make money selling the vehicles on their lots. Also, 95 percent of the showrooms are reportedly losing money. The issue facing FAW-Toyota sellers is mostly a case of supply and demand. Automakers in China mandate the number and types of vehicles that dealers sell. However, the inventory from all makes is at its highest level since August 2013, according to Bloomberg. The situation leaves dealers with packed lots, and cars often require discounts to move. Making matters harder is that showrooms have annual sales targets, which are linked to bonuses. This money can account for over half of the sellers' annual profits, according to Bloomberg. The FAW-Toyota dealers are pushing back by asking Toyota for 2.2 billion yuan ($355 million) to pay for costs associated with the extra inventory. It also lowered sales targets by six percent earlier this year and has requested no increase in the numbers for 2015. News Source: BloombergImage Credit: Nelson Ching / Bloomberg via Getty Images Earnings/Financials Toyota Car Buying Car Dealers

Tesla Cybertruck is here, Jeep Renegade is gone | Autoblog Podcast #810

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor, Electric, John Beltz Snyder. They start the show by talking about the new cars they'd buy for $24,000 if it were 1995. In the news, Tesla delivered the first production Cybertrucks, the Jeep Renegade has been discontinued for 2024, we've received specs and pricing for the Fiat 500e, the Chevy Bolt's return is confirmed for 2025 and Honda's gona show some future EVs at CES. For reviews, our hosts have been driving the Toyota bZ4X, Kia EV9 and Audi SQ5 Sportback. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #810 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Here's $24,000. Buy something new in 1995 Tesla Cybertruck price, specs, features finally revealed — plus, Cyberbeast 2024 Fiat 500e U.S. specs and pricing revealed Chevy Bolt second generation confirmed for 2025 debut Honda will show its new global EV lineup at CES Cars we're driving: 2023 Toyota bZ4X 2024 Kia EV9 2024 Audi SQ5 Sportback Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts 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: Green Podcasts Audi Chevrolet Fiat Honda Jeep Kia Tesla Toyota

Recharge Wrap-up: 'Racing Extinction' Tesla, Wards praises 3 hybrids

The makers of Racing Extinction used a tricked out Tesla Model S for their movie. The artists and activists used the electric car as a platform to project images from nature in various cities to raise awareness about imperiled wildlife. In addition to a the high-powered projector, the Model S features a electroluminescent paint job that emits light to mimic creatures found in the wild, such as bioluminescent sea life. It also has a thermal imaging camera in the front of the car with a filter to view CO2 emissions. Check it out in the video above, and read more at Ecomento. WardsAuto has named the 2016 Hyundai Sonata Plug-In Hybrid's powertrain to its list of 10 Best Engines. As the first plug-in hybrid to make the list, WardsAuto World Editor-in-Chief Drew Winter praises Hyundai engineers for their "impeccable job blending fuel efficiency with refinement and daily usability." Wards notes the car's smooth transitions between electric and hybrid modes, and a well-connected six-speed automatic transmission. Other electrified vehicles to make the list are the 2016 Chevrolet Volt and 2016 Toyota Prius. Read more from Hyundai, at Green Car Reports. FEV's plug-in hybrid battery pack has gone into vehicle series production. The 10-kWh battery pack, developed by the German development services provider, offers an all-electric range of about 30 miles. FEV says its battery management algorithms are just as important as choosing the right battery hardware. "The core system for the battery development is our own mature battery management system (BMS), now in its third generation, that together with optimized algorithms allows a very reliable and stable control of the battery," says FEV's Dr. Michael Stapelbroek. Read more at Green Car Congress, or in the press release from FEV below. Hybrid Vehicle Goes Into Series Production FEV development competence consists of batteries, controls, as well as complete drive systems FEV has demonstrated competence in the development of alternative drive concepts for almost twenty years. Most recently, yet another plug-in hybrid vehicle has gone into series production with technology provided by the Aachen-based developer. In addition to using an innovative transmission concept which is based on a FEV patent, FEV also developed the battery technology of the plug-in hybrid vehicle to series production readiness.