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BMW, Toyota warn about Chinese market slowing down

BMW and Toyota are the latest automakers to become concerned about the closing throttle on the once rapidly accelerating vehicle market in China. There might be drastic effects on their ledgers at the end of the year. With the Chinese stock market no longer looking so healthy, the people just aren't buying as many new cars as in the past. Things got really bad in June after the first drop in deliveries in two years. BMW has already reduced Chinese production by 16,000 units so far this year. Despite the slowdown, the company has kept a brave face. "We experience that volatility in all emerging markets," BMW CEO Harald Krueger said in a conference call, according to Automotive News. The problem for Toyota is a bit stranger. Through July, the automaker's Chinese deliveries were actually up 12 percent. However, the gain was offset by falling sales prices. "This is making our business in China quite difficult. The business environment is getting tougher," Toyota Managing Officer Tetsuya Otake said, Automotive News reported. Much of the weakness in China has come in the middle part of the year, and from January through June deliveries were still up 8.4 percent. This means the effects haven't hit the financial results of some automakers too hard quite yet. In the second quarter, General Motors referenced the "challenging conditions" there but still posted a growing net income of $1.1 billion. Despite falling global sales, Toyota managed record income for the quarter, too.

Daily Driver: 2015 Toyota Avalon Hybrid

Daily Driver videos are micro-reviews of vehicles in the Autoblog press fleet, featuring impressions from the staffers that drive them every day. Today's Daily Driver features the 2015 Toyota Avalon Hybrid XLE Premium, reviewed by Sebastian Blanco. You can watch the video above or read a transcript below. Watch more Autoblog videos at /videos. VIDEO TRANSCRIPT [00:00:00] Hello everyone. Welcome to another Autoblog Daily Driver. This is Sebastian Blanco coming to you from behind the wheel of a 2015 Toyota Avalon Hybrid XLE Premium. This is the silver metallic and light gray version. Comes in at $38,455. It has an Entune Premium audio setup here. It's a Toyota. It's a hybrid, which probably makes you think of a Prius. The Avalon [00:00:30] and the XLE and the Premium, what we're really dealing with here is a world's plushiest, comfiest bigger Prius. It's a very different kind of car, with the body style, but you've got a lot of similarities if you've spent any time in a Prius. The fuel economy of this Hybrid on the official scale is 40 miles per gallon combined, 40 in the city and 39 on the highway. I've driven it over 400 miles this week and my average was 34.3 miles per gallon. [00:01:00] Much lower than the numbers would suggest and there's really no excuse for that. I was driving with the cruise control on, mostly on the highway, the weather is fine. This should have been an easy 39, but maybe that's the fault of the cruise control. The sport mode in this car for me has been kind of a joke. When I was interacting with the car in a more discernible manner, I couldn't tell much difference. This isn't the kind of car that you want when you're dealing with sport mode. [00:01:30] You know what you're getting with this car. It's a little more luxurious, not quite Lexus level, but definitely the higher end for a Toyota. It's nice if you like these sort of cars. This is definitely worth a look, but it's not going to be on my shopping list anytime soon. Perhaps it is on yours. For Autoblog and AutoblogGreen, this is Sebastian Blanco for another Daily Driver.

5 highlights from the 2018 Petersen Automotive Museum Auction

From the avant garde exterior design to the collection of vehicles between the walls, the Petersen Automotive Museum in Los Angeles is one of the coolest car museums in the U.S., and possibly the world. Among several others, the Petersen has two featured exhibits, The Porsche Effect and Legends of L.A. But the museum has a different type of viewing coming up at which you could touch, or even buy, a variety of special vehicles. After hosting its SoCal auction on the coast in Santa Monica for several years, RM Sotheby's has moved the event to the more central location of the museum. In addition to several works of art, the auction which takes place the weekend of December 7, will show several dozens of blue-chip vehicles, chosen by RM Sotheby's 30 car specialists. After sorting through lots that range from microcars to new-age supercars, here are five of the highlights that caught our eyes. 1956 Ferrari 290 MM by Scaglietti Projected Value: $22,000,000-$26,000,000 Without question, this is the crown jewel of the entire show. As the eldest and most experienced of the 11 total Ferrari lots, its estimated value of $26 million is more than five times the values of the other five cars listed below combined. From the jump, Ferrari threw the 290 into the line of fire. Starting its life with a four-cylinder 860 Monza engine and a Tipo 520 chassis, its first race was the Mille Miglia. Peter Collins was behind the wheel and racing photographer Louis Klemantaski was his copilot. Ferrari took the top five spots in the race, with this car, chassis No. 0628, finishing second. It went on to see multiple races and took on multiple forms, including a V12 swap at one point. After switching through the hands of multiple owners, it was sent to Ferrari Classiche in Maranello, where it was restored to its form at the time of the 1957 12 Hours of Sebring. It retains its original chassis, original bodywork, and original transmission, and houses the V12 from its 290 MM spec. The restoration was completed in 2015, and the car remains in incredible shape today. 1971 Lamborghini Miura P400 SV by Bertone Projected Value: $2,100,000-$2,500,000 Simply put, the Miura is one of the most significant supercars, and therefore one of the most important cars, of all time. Its two-seat, mid-engined configuration seismically shifted what a performance could and should look like, and its V12 gave it the power to be the fastest car in the world when it debuted.