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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.

Honda may recall up to 1M vehicles for airbag issue, following Toyota's lead

It seems Toyota won't be the only one recalling the faulty Takata airbag inflators for long. Honda insiders in Japan claim that the company is getting close to announcing its own worldwide campaign that would begin before the end of June.
Unnamed sources close to Honda in Japan tell Automotive News that the company is pursuing an internal investigation into possibly affected models and is working with Takata to gather more information. They claim that it could involve even more than the 1.14 million cars worldwide that the automaker covered under the first recall for the problem in April 2013, including 561,000 vehicles in the US.
Toyota jumpstarted this process last week when it recalled over 2 million cars worldwide, including 844,277 in the US. Soon after, the National Highway Traffic Safety Administration began a preliminary evaluation into the issue following six reported incidents, and started assembling data about potentially affected models from Toyota, Honda, Mazda, Nissan, Chrysler. NHTSA also began investigating Takata itself.

Post-earthquake, Toyota prepares to reopen some plants in Japan

Toyota will restart vehicle production at most of its closed factories in Japan next week, but the factories that build the Mirai and many Lexus models will remain closed through at least April 28 and possibly longer. The earthquakes around the city of Kumamoto on the island of Kyushu forced the automaker to stop most of its assembly throughout the country due to a lack of parts supply. Toyota will reopen the plants in phases from April 25 to 28. However, the Motomachi factory with its LFA works, which makes the Mirai, and the Miyata factory will remain closed. These sites also build the Lexus NX, RX, ES, GS, and CT, according to Toyota. The automaker didn't say when production would begin again or how this would affect vehicle supply. "In the update, we received this morning from TMC, they said that at this stage it is too soon to tell what the impact on production will be, so we can't say yet whether there might be vehicle shortages in the US," spokesperson Aaron Fowles told Autoblog. While the quakes were focused on Kyushu, they damaged Aisin Seiki factories, which supplied parts to Toyota plants across the country. The automaker worked with its partner to import the necessary components from China and Mexico, and Aisin started moving molds from the damaged plants to operational ones in Japan, which gets production under way sooner. Automotive News Europe estimates the week of lost production cuts total assembly by 90,000 vehicles. It could cost Toyota the equivalent of $458.2 million to $641.5 million. The company could make up some of the losses through overtime. Toyota says these plans are subject to change because on ongoing tremors in the region, which could cause more damage. Reuters reported there was a magnitude 5.5 aftershock in the Kumamoto area on April 19. So far, the quakes have killed at least 47 people and around 100,000 people have moved to evacuation centers. Toyota to Restart Production on Vehicle Assembly Lines in Japan from April 25 Apr. 20, 2016 Toyota City, Japan, April 20, 2016-Between April 25 and 28, Toyota will restart production on most of its vehicle assembly lines in Japan. On April 17, Toyota announced that, due to parts shortages resulting from the severe earthquakes that struck Japan's island of Kyushu last week, production would be suspended on almost all of its vehicle assembly lines in stages between April 18 and 23.