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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.

Check out the 2017 Subaru Impreza live from New York

We just attended the reveal of the 2017 Subaru Impreza. While we don't have any more details ... yet, we do have live photos and video of the car to tide you over. Subaru will unveil its brand-new 2017 Impreza sedan and hatchback at the New York Auto Show on March 23. The reveal will finally tell us whether the company's designers will bring the sharp styling from its concepts to the road. From what we can see in this teaser, though, the production car won't be quite as forward thinking as we'd like. View 11 Photos Subaru has released a single teaser image of the front end, and we can already see that the headlights look like fairly conventional units. In the conceptual models, LED running lights came to a sharp point that drew the eye to the grille. It was certainly a more interesting design than in this photo. The new Imprezas are the first models to use the Subaru Global Platform, which underpins all the company's upcoming models. It's 70- to 100-percent more rigid than the current chassis and has a 40-percent increase in impact energy absorption. A lower center of gravity and reduced body roll should improve the handling. Subaru also promises the 2017 Imprezas have a more spacious interior and upgraded in-car tech. Subaru's concepts made the new Impreza look exciting, and we still hope some of that translates to production. The hatchback arrived first wearing silver at the Tokyo Motor Show. A red sedan then added a trunk to the honed shape at the LA Auto Show about a month later. Related Video: 2017 SUBARU IMPREZA TO DEBUT AT NEW YORK INTERNATIONAL AUTO SHOW ? Reveal on March 23, 2016 ? Completely redesigned for 2017 ? Sedan and 5-door to debut March 10, 2016 – Cherry Hill, N.J. – Subaru of America, Inc. announced today that the all-new 2017 Impreza will debut at the 2016 New York International Auto Show on March 23, 2016. The Impreza has been completely redesigned inside and out, from upgraded in-car technology and a more spacious interior to its sleek new body design. The updated model will include signature Subaru features such as Symmetrical All-Wheel Drive and award-winning safety technology. Both the sedan and 5-door model will be unveiled at the press conference scheduled for 12:20 p.m. ET on March 23, 2016 at the Subaru display following a speech by Fuji Heavy Industries president & CEO, Yasuyuki Yoshinaga. About Subaru of America, Inc. Subaru of America, Inc. is a wholly owned subsidiary of Fuji Heavy Industries Ltd. of Japan.

Subaru forecasts 540k US sales in 2015, 940k worldwide

In the past few years, growth for Subaru in the US has only been rocketing upward. The company went from selling 336,441 cars in 2012 to 513,693 in 2014, easily beating its own forecast. In fact with a 21 percent gain, the region was the automaker's largest expanding major market worldwide. The brand sees no reason for the strong inertia to stop in 2015 and thinks it can do even better. It actually looks like North America is going to play an even more important role in Subaru's future. According to the company's 2015 forecast, Japanese sales are expected to fall eight percent this year to an estimated 156,000 units. Meanwhile, growth in the US is estimated to climb to the tune of about five percent to a total of 540,000 vehicles. Canada should help things with a seven percent boost to 45,000 cars. The numbers mean that of the automaker's record 940,000 forecasted sales in 2015, roughly 62 percent could come from North America. To cope with the growing demand, Subaru intends to boost worldwide production and build 920,000 vehicles in 2015, an all-time record of it happens. Further out, the company's SIA factory in Indiana is getting an 18,000-unit expansion "during the first half period of FYE2017" to keep up with Legacy and Outback orders. Clearly, Subaru intends to gain even more ground in the coming years. Read below for its full forecasts. FHI Announces Production and Retail Sales Plans for CY2015 Automobiles Jan 16,2015 Tokyo, January 16, 2015 - Fuji Heavy Industries Ltd. (FHI), the manufacturer of Subaru automobiles, today announced its annual production and retail sales plans for calendar year 2015. 1.Production (Units in Thousands) 2014 Result '14 vs '13 2015 Plan '15 vs '14 Japan Production 696 +9% 700 +1% Overseas Production *1 193 +14% 220 +14% Global Production 889 +10% 920 +4% < Japan Production > In prospect of strong sales of the new Legacy and Outback being launched worldwide, Japan production is projected to be 700,000 units, which will be an all-time record for the 3rd consecutive year. < Overseas Production > With expected high demand for the new Legacy and Outback, overseas production is projected to be 220,000 units, which will be an all-time record for the 2nd consecutive year. < Global Production > Global production is projected to be 920,000 units which will be an all-time record for the 4th consecutive year. 2.