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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.

Toyota i-Road is no less strange in the flesh

We've seen plenty of three-wheeled creations in our day, but none quite like the Toyota i-Road Concept. The "personal mobility vehicle" offers seating for two with driver and passenger positioned in a tandem position. While that may sound more like a motorcycle than a car, the closed cockpit means riders don't need a helmet. The design also takes a page from the 2008 Peugeot HyMotion3 Concept with an articulating front suspension that allows the driver to lean through corners thanks to "Active Lean" self-balancing technology. Unlike the funky Pug, however, the i-Road is a fully electric plug-in vehicle.
While there are just five-horsepower on hand from an electric motor, the i-Road should serve up a range of around 30 miles thanks to its lithium-ion battery, and Toyota claims the cells can be topped off in three hours with a "conventional domestic power supply." Sounds majestic. Take in the full press release below.

Tesla pulling plug on Toyota RAV4 EV battery deal

The future of the Toyota RAV4 EV appears to be in doubt. Tesla supplies the EVs battery packs, and it says that production ends later this year.
"Toyota is expected to end the current RAV4 EV model this year," Tesla said in its quarterly financial filing obtained by Bloomberg. "Our production activities under this program are expected to end in 2014," the company said.
This timeline fits closely with the original production plans for the RAV4 EV. When the $100-million project was first announced, Tesla said that it expected to supply battery packs for the vehicle from 2012 to 2014. Building components for the Japanese automaker continues to bring in money, though. In the company's Q1 2014 letter to shareholders, it said: "Automotive revenue included $15 million of Toyota powertrain sales." According to Bloomberg, Toyota has sold just 1,594 RAV4 EV models from 2012 through April 2014. Initially, the business had estimated that it would sell 2,600 units of the electrified crossover.