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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.

Marchionne now considering 'Plan B' partners for FCA merger

Okay Sergio, just stop. With the sting of rejection from General Motors CEO Mary Barra still fresh, Fiat Chrysler Automobiles CEO Sergio Marchionne is moving on and trying to find another automaker to merge with. FCA may not be giving up hope on a merger with GM, but that doesn't mean it isn't at least considering alternatives. Sergio's so-called "Plan Bs" include the Volkswagen Group, as well as smaller Asian outfits, like Mazda, Honda, Suzuki, and Hyundai. Bloomberg reports that France's beleaguered PSA Peugeot Citroen could as a sort of "fallback" option due to its relative lack of volume, an unidentified source claimed. There are, of course, problems with each option. According to Bloomberg, Volkswagen expects complete control of a company, but the Agnelli family, which holds a large portion of FCA stock, is loathe to relinquish its stake in the company. On top of that, VAG just isn't looking to make a deal right now. Mazda, meanwhile, is enjoying a new partnership with Toyota and Suzuki is partially owned by VW. Honda and Hyundai have never expressed any interest in a partnership with a western automaker. That kind of just leaves the French then, but even that remains a long shot. As Bloomberg tells it, PSA boss Carlos Tavares is still working on a turn-around plan, and would want at least another six months to execute before even considering a deal with FCA. And even then, Tavares hasn't given any indication that he's considering a pairing. News Source: BloombergImage Credit: Paul Sancya / AP Chrysler Fiat GM Honda Hyundai Mazda Suzuki Citroen Peugeot Sergio Marchionne FCA Mary Barra psa peugeot citroen

Long Road Racing will build you the Miata that Mazda won't

One of the frustrating things about new cars today is that many features are exclusive to this trim level, or that package. Even the enthusiast-friendly Miata has many restrictions how you can configure one, which can make choosing one a bit tricky. You can't have the cheapest one or the leather-clad one with a limited slip differential, for example. And adding aftermarket parts on your own runs the risk of voiding your warranty. Long Road Racing, however, has a possible solution for creating the ideal, warranty-covered Miata. You may not be familiar with Long Road Racing, but you probably heard about one of its most-publicized products, the MX-5 Cup car. The car was developed by Mazda with the intention of creating a global spec series, and Mazda reports that about 140 of the cars have been sold so far. Every single one of those cars went to Long Road Racing to be specced out for racing before reaching their customers. So the company is familiar with the car, and has applied its expertise to its "Ultimate MX-5" program. The way the program works is, once you've purchased a 2016 or 2017 Miata, you can send it to the company to have it customized to your needs. The company has an extensive list of parts to choose from, all of which have been selected by the company to work well together. But if you need something outside of its offerings, or just need help choosing from the list, you can get in touch with the company to discuss how best to achieve your goals. Long Road Racing will also customize any trim level of Miata, and can even create a Miata Mazda didn't offer. For instance, you could have a Grand Touring with the leather interior, but also with the limited-slip differential and Brembo brakes from the Club model. All of these parts are fully warrantied by Long Road Racing for the length of the OEM warranty, and they don't void the factory warranty. We had the opportunity to try out a car customized by Long Road Racing at the M1 Concourse track in Pontiac, Mich. The car was there to sample alongside some of the MX-5 Cup cars as well as several of Mazda's stock road cars to drive on course. The road-going Long car started as a Grand Touring model, and it retains its heated leather seats and automatic climate control.