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Recharge Wrap-up: BYD sales surge, new Mazda MX-5, plug-in VW Passat

BYD has enjoyed a tremendous leap in sales since last year, according to Want China Times. Sales from January to April were ten times that of the same period last year, with much of the credit going to government subsidies for clean cars. BYD claims, though, that battery production is limiting the number of vehicles it sells, and that by increasing that production capacity, it will see even more success. BYD's Qin plug-in hybrid, introduced in December, has already sold 4,500 units with another 8,000 orders already placed. Read more here. Mazda will reveal the fourth generation of its MX-5 roadster in September. To celebrate the car's 25th anniversary, the all-new two-seat convertible will debut during simultaneous private events in Spain, Japan and the US on September 3 and 4. Furthermore, the new Miata will be the center of a more public event in Barcelona on September 6. For fans in the US, Mazda will hold a Miatas at Mazda Raceway event from September 5 to 7. The 2016 MX-5 promises to continue to offer a lightweight, balanced design for fun and efficiency. The new Volkswagen Passat will feature a plug-in hybrid version. Volkswagen confirmed the Passat PHEV for Europe at the model's unveiling at the Volkswagen Design Centre in Potsdam, Germany. The plug-in Passat uses a 154-horsepower TSI engine and an 80-kilowatt electric motor for a total output of 208 horsepower. With a full charge, it can travel up to 31 miles on electricity alone. All versions of the eighth-generation Passat use stop-start and regenerative braking. Read more at Green Car Congress. BBC warns that the costs of charging an electric vehicle in the UK could surpass those of fueling a gasoline engine. Not so fast, says The Green Car Website. While the BBC cites charging services like Charge Master introducing fees for rapid charging making it cost about as much per mile to drive as traditional internal combustion engines. The Green Car Website points out that most people usually charge at home for much less, that paying for rapid charging is still not that expensive and that the BBC article misses the point about EVs, anyway. See the BBC article here or click here to read the rebuttal. News Source: Want China Times, Mazda, Volkswagen, BBC News, The Green Car Website via Charged, Green Car Congress Green Mazda Volkswagen Green Automakers Electric PHEV recharge wrapup qin

If VW defaults on loans it may sell Bentley or Lamborghini

If something goes catastrophically wrong with Volkswagen Group's recent $21 billion loan, brands like Bentley or Lamborghini could hit the auction block. According to two insiders to Reuters, the beleaguered German automaker agrees with its creditors to sell assets if the company somehow can't pay back the debt in a year. One of these anonymous people claimed the company hasn't yet deliberated over what to sell. However, the sources were willing to speculate that the power engineering portion of Man could be among the first to go. "Volkswagen may also consider divesting luxury car brands Bentley and Lamborghini or motor bike brand Ducati, although these units don't really move the needle," an insider said to Reuters. VW Group negotiated with the banks earlier this week to get the massive loan. The cash is necessary as a buffer in case the automaker doesn't have enough money on hand to repair vehicles or settle upcoming fines. VW would reportedly issue bonds in the spring to begin paying the debt. The company's bills will start racking up quickly in the new year. German authorities mandate a recall there in early 2016, and repair campaigns in the US for the 2.0- and 3.0-liter diesel engines are inevitable. There are also hundreds of class-action lawsuits to settle. The company needs to resolve its CO2 emissions scandal in Europe, too. In response to these financial threats, VW management created a cost-cutting plan to slash the research and development budget by $1.1 billion next year.

Volkswagen could outsell GM in China for the first time in nine years

As of the end of November, Volkswagen had sold 70,000 more cars than General Motors in China in 2013, making it appear inevitable that VW will outsell GM there. The feat would return the German brand to the top of chart in China for the first time in nine years, but even the second-place getter won't be complaining too loudly: both automakers sold more than three million vehicles in a market pegged to hit 16 million sales this year.
Volkswagen said it could have sold more cars if it had had more production capacity in China. The arrival of a new-to-China Audi A4, a China-built A3 sedan, the VW Bora and Skoda Octavia, as well as an $18.2-billion-euro investment in the country to construct new factories, means VW should see its numbers grow in 2014. GM's lineup is expanding next year, too, adding four Chevrolet nameplates and two vehicles to its Baojun brand as it tries to get to five million in sales by 2015.
Among other automakers, Ford benefited from good product and woes for Japanese automakers over a territorial dispute with China, outselling Toyota by almost 32,000 units through the end of November. The Ford Focus is China's best-selling vehicle so far this year.