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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.

Chrysler and Fiat offering $1,000 rebates to VW owners as Marchionne gets tough

The throw-down between Fiat CEO Sergio Marchionne and Volkswagen has heated up in earnest. According to Bloomberg, Fiat and Chrysler are now offering current Volkswagen owners in the US $1,000 rebates to trade in their ride. It's the latest in a series of shots Marchionne has taken at his German rival. As you may recall, the Fiat executive entered into a spat with Volkwagen board chairman Ferdinand Piëch and CEO Martin Winterkorn in October after the duo called for Marchionne's resignation from presidency of the European Automotive Manufacturers Association (AECA). At the time, the Volkswagen executives were quoted as saying Fiat would not survive the European economic downturn.
In response, Marchionne called the German executives "reprehensible," and accused Volkswagen of using a pricing strategy that has created created a "bloodbath" in the EU. Volkswagen has taken to steep discounting to carve out ever-larger slices of market share in Europe, but the company has a much smaller foothold in the US. Marchionne may be trying to hit Volkswagen where the manufacturer is weakest with the new Fiat new incentive program.
Late last week, the Fiat executive was voted to a second term as ACEA president.

VW rolls out new California camper van

Volkswagen introduced the sixth-generation Transporter van a few months ago, ushering in a new era for the once-iconic VW bus. But the Transporter isn't the only version Volkswagen Commercial Vehicles bases on its core van chassis. It also offers the Caravelle, the Multivan, and this, the new the California camper. Based on the T6, the latest California is now being rolled out for what you might call "outdoor recreation enthusiasts." Depending on which configuration you choose, it can fit up to seven people on the road and sleep up to five. VW has thrown everything into this van, literally including the kitchen sink. It's also got beds, a pop-top, and a dual-burner gas range. The new VW California can be had in three trim levels (dubbed Beach, Coast, and Ocean) and with a range of gasoline and diesel powertrain options. That is, where it can be had, because despite the name, the California (like the rest of VW's commercial vehicles) isn't actually offered in California or any of the other 49 states in the Union. Off on holiday – advance sales of the new California have begun - In three equipment lines: Beach, Coast and Ocean - Entry-level prices from just ˆ41,429.85 - New TDI and TSI engines – lower fuel consumption and stop/start function as standard - Modern infotainment, assistance systems and DCC suspension Hannover, 10 June 2015 – Advance sales of the new California have started at dealerships in Germany. Prices start at ˆ41,429.85 (Beach with 62 kW TDI). The California is now available in three equipment lines: Beach, Coast and Ocean. The California Beach is the entry-level model. It is the perfect combination of a 7-seat passenger car and a motorhome with up to five berths. Equipped as standard with a manual pop-up roof and two different layouts (double reclining bench seat with storage compartment or folding triple bench seat with multiflex board), it provides the ideal base for everyday life and travelling. Naturally, the integrated roller blinds enable the creation of privacy and shade, just as the ability to turn the front seats around enables driver and passengers to sit together in a cosy seating group. In combination with the removable camping table within the sliding door and the folding chairs in the tailgate, you are always equipped for outings of all kinds. New to the range is the California Coast.