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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 refurbishing this NFL running back's 22-year-old daily driver

I don't actually care for the Washington Redskins (which is a good thing, considering the start to their season this year), but I love their running back, Alfred Morris. Why? Well, to start with, Morris helped deliver a dominating 10-3 season for my fantasy football team last year after a flash of prescience saw me pick him up off the waiver wire in Week 1 (hit me up on Twitter if you need fantasy sports insight, guys, I'm sort of like the Ruxin of Autoblog).
Morris is also pretty endearing because of his loyalty to his car, Bentley. Hold up - that's not to say the running back has splashed out on a Continental GT or a Flying Spur. No, Morris gave his much-loved 1991 Mazda 626 the tongue-in-cheek name "Bentley" while he was still a student at Florida Atlantic. One 1,613-rushing-yard rookie season and a $2.2-million contract later, and Morris is still using his Mazda as his daily driver. It might be easy to assume that the young player is simply being really prudent with all of his newfound wealth, but the guy really just has a thing for his five-speed-manual 626.
And Mazda, of course, loves the story of Morris' affection. In an effort to keep his 626 running strong and looking good, the company's Washington D.C.-area dealers have agreed to refurbish Bentley back to its original showroom freshness. Rather than spoil the classic (?) lines of the 626, the Mazda folks are essentially restoring the car for Morris. The cracked dash will be swapped out for a factory replacement, the engine and transmission given a thorough going-over and the whole vehicle generally made as fresh as Will Smith circa 1991. Bentley is expected to be completed and rolling through the capitol city by October 15, and in the meantime, Morris has been driving around in a new 2014 Mazda6 loaner car.

Takashi Yamanouchi to retire as Mazda chairman

Takashi Yamanouchi has been with Mazda for a long time. He signed on with the Japanese automaker in April 1967 - one month after graduating from Keio University - and rose through the ranks over the years. By 1996 he was named to the company's board of directors. In 2008 he was named president and CEO, an office he held until 2013, after which he handed over the day-to-day reins to Masamichi Kogai and took up the seat at the head of the board room to serve as the company's chairman. But now, after 47 years working for Mazda, Yamanouchi-san is retiring at the age of 69.
During his tenure as CEO and then as chairman, Yamanouchi was credited with growing Mazda's business despite unfavorable fluctuations in exchange rates, opening the company's first plant in Mexico, and spearheading the development of Mazda's Skyactiv technologies and Kodo design language.
In his place, current vice chairman Seita Kanai will take over as chairman. The changing of the guard will take place after the annual shareholders' meeting on June 24.