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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.

2014 Mazda6 earns Popular Mechanics' 'Car of the Year'

Ring one up for Mazda. The Japanese brand's midsize offering, the Mazda6, has been named Popular Mechanics' Car of the Year. The 6 received a comprehensive reworking for the 2014 model year that saw it adopt sleek, sexy sheet metal; a clean, logical interior; and powertrain technologies that allow it to net some of the best fuel economy available in a gas-powered, non-hybrid sedan.
Popular Mechanics praised the 6's Skyactiv 2.5-liter, 184-horsepower engine, as well as its agility and responsiveness during testing. It also remarked on the functional, but well designed cabin, and the degree of available technology.
"The Mazda6 really impressed us with how well it delivers so many things modern car owners want: great mileage, fun road-handling, upscale features and looks - and remarkable value," said Jim Meigs, Editor-in-Chief of Popular Mechanics.

Mazda CEO predicts record US sales in next 2 years

The recently appointed CEO of Mazda is apparently quite the optimist, claiming that the Japanese brand, renowned for its Zoom-Zoom driving character (and more recently its sleek, refined designs and Skyactiv efficiency), is claiming the company will record its best-ever US sales within the next two years. According to a report from Automotive News, Masamichi Kogai expects Mazda to move 400,000 of its Kodo-styled vehicles in the increasingly competitive US market by March 2016, with the recently launched Mazda3 leading the charge. "It will impacted considerably by the trend of the U.S. industry. But... it's my hope we achieve the record by that time," Kogai tells AN.
The brand is currently targeting 300,000 units by the end of this fiscal year in March 2014. Given that production and sales of the Mazda3 (and consumer awareness of the 2014 Mazda6) is still picking up steam, it isn't a stretch to imagine Mazda, which sold 240,000 vehicles from January to October of 2013, hitting its target.
Along with the overall increase in sales numbers, Kogai is expecting the independent brand to take an even larger slice of the US sales pie, claiming 2.5 percent US market share, improving from its current 1.9-percent foothold so far in 2013. "I think the upper limit may be 2.5 percent for the time being," Kogai told AN, before pointing out, "We don't want to use a lot of incentives. That is not the sales approach we aspire toward."