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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.

Import pickup truck-killing Chicken Tax to be repealed?

After over 50 years, the so-called Chicken Tax may finally be going the way of the dodo. Two pending trade deals with countries in the Pacific Rim and Europe potentially could open the US auto market up to imported trucks, if the measures pass. Although, it still might be a while before you can own that Volkswagen Amarok or Toyota Hilux, if ever. The 25-percent import tariff that the Chicken Tax imposes on foreign trucks essentially makes the things all but impossible to sell one profitably in the US, which lends a distinct advantage to domestic pickups. Both the Trans-Pacific Partnership with 12 counties and Transatlantic Trade and Investment Partnership with the European Union would finally end the charge. According to Automotive News though, don't expect new pickups to flood the market, at least not immediately. These deals might roll back the tariff gradually over time, and in the case of Japan, it could be as long as 25 years before fully free trade. Furthermore, Thailand, a major truck builder in Asia, isn't currently part of the deal, and any new models here would still need to meet safety and emissions rules, as well. Automotive News gauged the very early intentions of several automakers with foreign-built trucks, and they weren't necessarily champing at the bit to start imports. Toyota thinks the Hilux sits between the Tundra and Tacoma, and Mazda doesn't think the BT-50 fits its image here. Also, VW doesn't necessarily want to bring the Amarok over from Hannover. There is previous precedent for companies at least considering bringing in pickup trucks after the Chicken Tax's demise, though. The Pacific free trade deal could be done as soon as this fall, while the EU one is likely further out, according to Automotive News. Given enough time, the more accessible ports could allow some new trucks to enter the market.

Mazda planning not one but two new crossovers for U.S.

Mazda has already announced plans to unveil a brand new crossover at the Geneva Motor Show, but it turns out there's another one in the pipeline set to satiate the appetites of a crossover-mad U.S. market. Speaking at the Chicago Auto Show, Mazda North America CEO Masahiro Moro told reporters the brand has another model planned for production at the $1.6 billion plant under construction with joint-venture partner Toyota in Huntsville, Ala. It'll be "a new crossover SUV which is exclusively designed for the North American market," Automotive News quoted Moro as saying. While it'll be a different product from the one debuting next month in Geneva, the two vehicles will share some architecture. The company is reportedly still finalizing the concept for it. Currently, Mazda sells three crossovers in the U.S.: the subcompact CX-3, the compact CX-5 and the larger CX-9. Together, the three vehicles, which constitute half of the tiny automaker's vehicle lineup, posted sales of 195,778 for 2018, up 15.8 percent from 2017. They accounted for nearly two-thirds of the brand's total vehicle sales of 300,325. Production is expected to start at the new Alabama plant in mid-2021, Moro said, and add capacity for 150,000 units of crossovers. The plant is expected to employ up to 4,000 workers with a total capacity of 300,000 vehicles a year. Toyota plans to build the Corolla there alongside Mazda's crossovers. Mazda last week released the teaser pic shown above of its forthcoming new crossover headed for Geneva. It could be the next and slightly larger version of the CX-3, which will use the Skyactiv Vehicle Architecture that also supports the new Mazda3. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.