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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.

Mazda's game plan: Compression ignition, superchargers, EVs — and still fun to drive

Today, Mazda announced its new Sustainable Zoom-Zoom 2030 initiative. Dumb marketingspeak name aside, this is Mazda's general plan to make its cars more efficient while still keeping Mazda's fun-to-drive character. The most notable part of this announcement is Mazda's new Skyactiv-X engines and the addition of EVs and electrified powertrains starting in 2019. As we reported back in January, this new supercharged Skyactiv-X engine family will be the first to use high-compression ignition, or HCCI, rather than traditional spark plugs. Each year, fuel economy and CO2 emissions standards grow ever tighter. Each and every automaker around is looking for ways to improve both factors. Initially, most have chosen to downsize engines and add turbochargers. That's why Mazda's new Skyactiv-X engines are going to be so special. They essentially work like a diesel engine, using extremely high compression to ignite the fuel rather than the flame from a spark plug. Adding a supercharger rather than a turbo retains a smooth and immediate engine response. Look for a 10 to 30 percent increase in torque and a sizable boost in fuel economy. Mazda's engine already have some of the highest compression ratios around, but these new engines will push well into diesel territory. The biggest issue so far with gasoline compression ignition is controlling when the gasoline ignites. Mazda claims to have solved this issue, seamlessly moving from spark to compression ignition. This new plan comes 10 years after the first Sustainable Zoom-Zoom initiative was announced. With Sustainable Zoom-Zoom 2030, Mazda wants to focus on the Earth, society, and people. Together with the new engines, Mazda hopes to create a sustainable future that still involves engaging and fun-to-drive automobiles. First, Mazda wants to consider emissions over the entire life of a car. That means reducing emissions generated while building the car or fueling and charging a car in addition to those released while it's on the road. The goal is to reduce emissions to 50 percent of 2010 levels by 2030, and a 90 percent reduction by 2050. New electrified models will debut in 2019 in markets that have a high ratio of clean energy for power generation. Mazda's focus on society aims to improve safety with the Mazda Proactive Safety philosophy. Like with Skyactiv, this ethos goes far beyond simply improving an engine or adding new active safety technology.

Mazda's first profit in five years in sight due to weak yen

Automotive News reports Mazda is set to turn a profit for the first time in five years. The automaker is more dependent on exports from Japan than other automakers based in that country, and as a result, it has long suffered at the hands of a strong yen. But the currency has declined in value by some 16 percent over the past six months and Mazda's shares have tripled in value to their highest level since 2008. Contrast this situation to a year ago when Mazda printed 1.22 billion new shares to raise cash. The move was equivalent to 70 percent of the company's then-outstanding stock, and values tumbled to record lows as a result.
Now that the yen has fallen to a value of around 96 per dollar, Mazda operations in the US are more profitable and the company now projects it will earn around $279 million for the next fiscal year. Automotive News says a one yen change against the dollar can have a 9.1 percent impact on Mazda operating profit compared to 4.7 percent at Subaru parent Fuji Heavy Industries or 3.1 percent at Toyota. Those automakers better insulate themselves from currency fluctuations with overseas manufacturing facilities.