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Autoblog Minute: VW Q3 financial woes, 2015 Tokyo Motor Show

Consumer Reports pulls its Tesla recommendation, the U.S. Copyright Office offers a ruling affecting car owners, VW gets hit hard with third-quarter losses, and lots of exciting news from Tokyo. Autoblog senior editor Greg Migliore reports on this edition of Autoblog Minute Weekly Recap. Show full video transcript text [00:00:00] Consumer Reports pulls its Tesla recommendation, the U.S. copyright office offers a ruling that affects car owners and gear heads, VW gets hit hard with third-quarter losses, and lots of exciting news from Tokyo. I'm senior editor Greg Migliore and this is your Autoblog Minute Weekly Recap. After a week away testing vehicles for Autoblog's Tech of the Year award, we're back in the office to recap the week in automotive news. [00:00:30] One of the things you might have missed was Consumer Reports pulling its recommendation of Tesla's Model S sedan. The blemish for Tesla comes after a tally of reviews from customer surveys. The most common problem areas for the Model S as cited by survey takers included: the drivetrain, power equipment, charging equipment, body and sunroof squeaks, rattles, and leaks. So lots of stuff. Though they could not ignore a score of "worse-than-average", Consumer Reports still [00:01:00] highlighted the fact that the Model S was "the best performing car" they've ever tested. Telsa CEO Elon Musk took to social media to defend his sedans saying: "Consumer Reports reliability survey includes a lot of early production cars. Already addressed in new cars." And, "Tesla gets top rating of any company in service. Most important, CR says 97% of owners expect their next car to be a Tesla (the acid test)." In Financial news, Volkswagen took a hit and reported an operating loss of [00:01:30] $3.84 billion. This is the first such loss for VW in 15 years. Toyota reclaimed the crown as the world's largest automaker as well. It's important that it's not all doom and gloom for VW though in Q3. Sales revenues were up and the company's automotive division boasts $30 billion dollars in liquid assets. It's a sizable war chest that will no doubt come in handy, as the company has yet to feel the full brunt of the diesel emissions scandal. Good news for gear heads. The US copyright office [00:02:00] ruled in favor of mechanics and car owners by granting an exception to existing copyright law. The law was originally meant to prevent software pirating and bootlegging of Hollywood movies.

Suzuki could disappear from new car market quickly thanks to low inventory

Yesterday's announcement that American Suzuki has filed for bankruptcy is all but a death blow for the Japanese automaker's 246 US dealers, but if there's any good news coming out of the situation, it could be the fact that the whole process will likely be quick and painless rather than drawn out. WardsAuto is reporting that with the current inventory and average sales numbers so far this year, there figures to be about three months left for Suzuki's new-car business in the US given current sales rates.
In October, Suzuki sold 2,023 units - a five percent increase over last year - but with just 5,549 left in inventory, it shouldn't take too long to wind down operations. Sales for the brand peaked 2007 with more than 100,000 units sold, but this year, Suzuki is barely on pace to reach a quarter of that amount, with just 21,188 units sold so far in 2012. In addition to poor sales, WardsAuto also notes that Suzuki faced problems due to its reliance on customers with subprime credit.
Suzuki will continue to sell motorcycles, ATVs and marine engines in the US, while the brand's cars will still be on sale in other countries including Canada and Mexico.

Suzuki back in MotoGP for 2015

It had been planned for 2014 but it's going to be 2015 instead - that's when Suzuki returns to the manufacturer ranks of MotoGP after quitting the series at the end of 2011 because of The Great Recession. When Suzuki stopped after 37 continuous years of racing, it said it intended to return three years later and it has been in talks with MotoGP's rights holder, Dorna Sports, since last year. No doubt, though, that fan anticipation of the team's return outdoes any dismay at the delay. It will join Yamaha, Honda and Ducati in the premiere league.
Its bike has already been testing in Japan and was with the official MotoGP tribe in Barcelona, Spain on Monday when Suzuki announced its return. It's said the development bike is called the XRH-1, being ridden by official tester Randy de Puniet (who currently races in MotoGP on an Aprilia-based bike with TeamAspar). and after a day of testing de Puniet got the new Suzuki to within seven-tenths of a second of the top time posted by other MotoGP teams. Davide Brivio, who once ran the Fiat-Yamaha team and has been close with Valentino Rossi, will be the team manager.
Speaking of Rossi, The Doctor is back with Fiat-Yamaha after a bad run with Ducati but is only contracted to the end of 2014. Brivio is the man who got Rossi to join Fiat-Yamaha, then got him to Ducati. Until he took the head of Suzuki's works effort, Brivio was working with Rossi's VR46 management company, heading areas like merchandising. The rumormill has already begun its work, with folks wondering if Rossi will head to Suzuki in 2015 if his second stint at Yamaha doesn't prove fruitful before then. Scroll down below for the official press release from Suzuki.