AD #3020 – Volkswagen Considers Porsche IPO; Hyundai & Kia Deny Ransomware Attack; Honda Names New CEO

February 19th, 2021 at 11:55am

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Listen to “AD #3020 – Volkswagen Considers Porsche IPO; Hyundai and Kia Deny Ransomware Attack; Honda Names New CEO” on Spreaker.

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Runtime: 9:46

0:08 Hyundai & Kia Deny Ransomware Attack
0:53 Volkswagen Considers Porsche IPO
1:41 Daimler & Renault Post Polar Opposite Earnings
4:29 Gas Prices to Remain High
5:15 The Onion Skewers Jim Farley
5:53 Mahle Develops New Heat Pump to Boost EV Range
6:52 Honda Names New CEO
7:26 Little Overlap Between J.D. Power & Consumer Report Surveys
8:24 EVs Help Keep Texans Warm

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35 Comments to “AD #3020 – Volkswagen Considers Porsche IPO; Hyundai & Kia Deny Ransomware Attack; Honda Names New CEO”

  1. ChuckGrenci Says:

    ‘Overlap between J.D. Power and C.R.’; my take, is to buy what you want/like as long as both companies don’t have your pick at the very bottom of their lists. And even then, if you want it; buy it.

  2. Buzzerd Says:

    @1- I think that’s good advice. Even if its at the bottom of the list it’s still pretty good.

  3. Lambo2015 Says:

    1&2 I was having the exact thought.. I bet there is some overlap when you look at the bottom of their lists.

  4. Lambo2015 Says:

    I’m guessing Jim Farley is expanding on his cousins (Chris Farley) sense of humor. If Ford really wanted a Toyota battery they could buy one. I’m surprised a CEO would even jokingly admit to grand theft.

  5. Roger Blose Says:

    Ford is loaning to Texas folks their all new 2021 F-150s with the on board electric generators to get through the bad weather. Their sales of these trucks will explode once everyone sees how great this option is in bad times. Good for them!

  6. Kevin A Says:

    Ever since FIAT spun off Ferrari and found out it was worth more than ALL other parts of FIAT, combined (including trucks, robots, parts and finance) spinning off a specialty division has seemed like an easy way to raise cash. I previously suggested that Corvette could be spun off for huge money for GM’s future. Even Ford should consider spinning off Mustang. A sports car / EV maker would have to be worth a ton.

  7. Carl Says:

    Your ‘HYUNDAI & KIA DENY RANSOMWARE ATTACK’ sounds fishy. While tech companies might become aware of some ‘Denial Of Service’ hacking jobs, it would be HIGHLY UNUSUAL and suspicious if Bleeping Computers had evidence of a ransomware attack, let alone the amount demanded, unless they were the culprits behind the attack.

  8. Kevin A Says:

    Stories are circulating about Ford offering a min-Mustang Mach E based on VW’s electric platform. They should at least have the decency to call it “Capri”. https://insideevs.com/news/488901/meb-mustang-mach-e-europe-2023/?fbclid=IwAR3Vc8UIVVJjhcrH73HxkwBLZw-S1L9gzlwVOg5EwZNKpRkFTWRZff5ga0w

  9. wmb Says:

    Did the former FCA maintain a controlling interest in Ferrari, when they spun it off? With VW Group looking for capital to finance its BEV initiative, the resources they can get from spinning off Porche, but keeping a controling interest, could be massive! The only trouble would be having to listen to all those other voices in the room when they go to make decisions, when before the didn’t have to.

    The heat pump by Mahle sounds like a small thing, but it could be one of the little improvements that over time adds to making EV’s universal acceptability. When you consider that ICE vehicles of long ago, weren’t the sophisticated engines that they are today, but developed into this over time. OHC, DOHC, V-Tech, turbo and supercharging, power steering, etc., are all things that have came on over time to make the ICE a marvel of engineering. While BEV’s are amazing now, it’s these small, incremental improvements that will continue to add to the current efficiency they already have!

  10. Rey Says:

    Maybe the North Korean cousins were guilty of that ransomeware attack, they caught a couple of NK agents doing such , something to do with somebody making fun of THE DEAR LEADER , besides the Commie NK are strapped for cash

  11. ArtG Says:

    The Mahle heat pump reminds me that I’m old enough to remember when the Chevrolet Corvair and VW Beetle were available with optional gasoline-fired heaters. Those air-cooled engines were notorious for producing wimpy heat. I remember riding in a friend’s Beetle on a particularly cold day and asked if I could open a window and warm up.

  12. ARHPG Says:

    “LITTLE OVERLAP BETWEEN J.D. POWER & CONSUMER REPORT SURVEYS.” Both sources have excellent surveys and rankings that are meaningful to consumers, but what you failed to mention is that *CU* (*Consumer Reports*) has no “commercial ax to grind,” a they don’t take advertising money. J.D. Power does, however, depend on money from advertising and from manufacturers, which likely ultimately affects the objectivity of their ratings. I would therefore place *Consumer Reports* as a more valid source of accurate reporting. A bad rating from *Consumer Reports* can also mean the “kiss of death” for manufacturers who don’t respond and correct issues or defects. Consider the fate of 1988 test of the Suzuki Samurai. Roll-over tests hurt the otherwise well-engineered vehicle, and it was eventually removed from the US market. Suzuki has never regained a position in the US market since that time.

  13. Scooter63 Says:

    I was under the impression that CR rates its top vehicles based on their members input. So it would be biased to what their members drive. Therefore the domestic auto have always done poorly. I can remember when the GEO / Toyota cars came off the same line yet had significantly different ratings. From that point, I never read CR again.

  14. MERKUR DRIVER Says:

    13) Agreed. There have been numerous inconsistencies with platform shared cars from both of these rating agencies over the decades. There is no point to even bother with researching with either of them. At this point it is best just to buy whatever you want and get an extended warranty as part of the deal.

    These ranking agencies do have applicability for the used car market though. By the time a car is 3-5 years old; there would be enough valid data to make a reasonable rating on reliability. They have zero applicability to the new car market, unless you buy dodge vehicles LOL

  15. Kit Gerhart Says:

    13. CR’s reliabity data comes from subscriber surveys, but they don’t publish results for cars with fewer than 100 surveys.

  16. ARHPG Says:

    #13. The reliability ratings are based on surveys from owners who own and have experience with vehicles. J.D. Power also uses surveys, I believe, so this data itself should be relatively objective — and perhaps there is not that much difference between them on reliability ratings — but vehicle ratings by J.D. Power don’t appear to be commercial-free as with CR.

    On the CR website, there was a comparison of surveys, and this comment was made regarding J.D. Powers vs. Consumer Reports:

    “And of course there is J.D. Power & Associates, who reportedly charge hundreds of thousands of dollars to car makers just for access to their survey results and then charge another big-time fee for the right to mention their awards in ads. Additionally, they provide a separate, equally pricey service where they help car companies make improvements that should result in higher ratings.

    Some biggie at J.D. Power stands by the company’s assertion that the survey and consulting sides of the business are separate entities. ‘Core to our success is that our clients believe that the research is entirely independent,” he said. “If they felt that you could buy a better score, then the score would become worthless.’

    By comparison, there is Consumer Reports. CR purchases all their test vehicles from dealers, does all its own testing and refuses to sell or allow the use of their ratings for use by car companies. Of course, we have to confess that we’re a little biased in favor of their lack of bias.

    Regardless, do you think that the amount of money car companies pay to use awards and ratings like those mentioned above casts doubt on the awards’ validity? Is it possible to maintain impartiality toward a company that pays you to rate them?”

  17. Lambo2015 Says:

    The problem I have with CR is its like initial quality ratings. Most everything is pretty good for the first year of ownership. Heck most vehicles don’t need anything for the first 10k miles. So as long as it doesn’t need to be brought back to the dealership for anything reliability is the great. So how the vehicle is 5 years down the road is more important but also too late to buy it new in most cases.

    Now fit and finish quality although varies it rarely changes how a person feel about their purchase. You pretty much know what your getting before you buy and its directly related to cost. So a person paying 25k shouldn’t expect the level of finish of a vehicle twice that price. Although some do. For that reason even the customer survey results are sometimes misleading.
    Since everyone has stepped up the level of quality to almost a level playing field Id say the vehicles that have consistently well known quality problems is more helpful.
    The list of vehicles to avoid would be more helpful than the top rated among first year or months of ownership.

  18. Kit Gerhart Says:

    17 CR has reliability survey data going out several years. You can see catagorized survey data for a 5 year old car. Their “road test score” for new cars is their idea of “basic goodness,” including how it drives, performance, comfort, gas mileage, and probably some other things. Their “overall rating” adds in reliability, and maybe some safety stuff.

  19. TERRY Says:

    Reliability and dependability are similar. For engineers, there is a third term, durability, which is quite different. Reliability is how often you have a problem for a given amount of time. Durability is how long a system lasts before it fails. It could be the durability of a single component like a gear, or a whole system, like a transmission or engine.

  20. Drew Says:

    Well, well, well. The CR survey absolutely has bias. 1. They do not normalize the reader scores (different demographic groups have different sensitivities). 2. The road test scores reflect the bias of the CR team. And 3. CR’s editorial board (despite claims of independence) consists of many Nadarites, with complete disdain of Michigan-based OEMs.

    You may dismiss my 1st and 3rd points, and argue my 2nd point. But here is an example… Jake Fisher’s daily commute in Connecticut includes heavily tree-lined roads. The shadows create his sensitivity to Daytime Running Lights. So, CR’s road test scores include points for DRLs. DRLs are mandated in Canada and Scandinavian counties due to their northern location with extended twilight conditions. While studies have validated DRL effectiveness in those climes, no such benefit has been affirmed for the lower 49. Right or wrong, it is a bias. Conversely, CR’s road test scores assess every vehicle the same way, so a large truck will rate lower due to maneuverability and a 2-door sports car will rate lower for lack of spaciousness…. no bias when perhapsthere should be a bias. And CR more heavily relies on IIHS safety ratings than NHTSA rating, despite the latter being much more scientific than the former… another bias.

    Overall, I put more weight on JDP’s dependability study. It is not edited based on OEM subscription. It’s detail report is sold to OEMs… something consumers should find encouraging as OEMs strive to learn issue areas for improvement.

  21. Kit Gerhart Says:

    20 CR’s road test scores are more objective than any other published road test evaluations. Do you think the Hyundai Veloster is the best performance car sold in the US, just because Road and Track said it was?

    Yes, you should compare CR’s handling evaluation of pickup trucks with other pickup trucks, and sports cars with other sports cars.

    It’s hard to know where JDP gets their data. Didn’t they recently say Dodge had the best initial quality of any brand? That seems highly unlikely, and I have a Dodge.

    JDP mails out surveys, and gets their data from surveys returned. Who returns the surveys, people who like their cars, those who don’t, or what? There are probably biases there, just with who takes the time to fill out the surveys and mail them in.

    I subscribe to CR and complete their surveys for cars I own, but their road tests, except for objective data like gas mileage, do not have much bearing in the cars I buy. In particular, their reliability survey results don’t affect what I buy. I bought a Corvette and a MINI, even though both had poor reliability results in their surveys.

  22. woscar Says:

    When we bought our ’85 Chevy Impala, it was CR’s highest rated brand for large sedans. That figured into our decision. Pre ’84 was a very different car and never got good ratings. Their results led us to go take a look. We bought a Certified used one that was a year old. Haven’t had any problems other than “pilot error” on the electronics. It’s not perfect, but it’s the best car we’ve ever owned in most respects and plan to keep it at least another 5-years.

  23. Kit Gerhart Says:

    22 The last of an era. Wasn’t ’85 the last year for the rear-drive Impala?

  24. ChuckGrenci Says:

    23, the last rear-drive was ’96 (Impala SS, with the vette engine was of note).

  25. Kit Gerhart Says:

    24 What I was thinking of is that the Impala name went away for a while after 1985, and they were all called Caprice the last few years of the boxy “B” body, and the ’91 to ’96 Shamu body style. A modern version of those wagons would be great.

  26. Sean Wagner Says:

    25 That Caprice and its siblings make me think of two exceptionally alluring Cadillac concept cars, the Voyage and Solitaire.

    Noone in their right mind will design hoods that long anymore, but the lines still look sublime. Grills almost as big as some current cars’ too…

  27. Kit Gerhart Says:

    26 I remember the big ’70s American cars, and the “personal luxury cars” like Cutlass Supreme, Monte Carlo, and Cordoba having an extra 20 inches or so in front of the engine, in the name of styling. As I remember, they often had an extension between the water pump and the radiator fan, so part of the extra length was behind the radiator, and some in front of it.

  28. Kit Gerhart Says:

    I see that, for a few days, it would have cost $1000 to charge an electric car some places in Texas, if you had power at all.

  29. Sean Wagner Says:

    Just so. Insane. Spain had a similarly rare cold spell and they somehow managed nicely.

  30. cwolf Says:

    I just read an interesting piece about solar panels in Saudi Arabia. They have huge solar farms in the desert. Satelite photos show that they are effecting the global air pattern. Is was said that solar panels are only 15% efficient and the rest is given off as heat, heat responsible causing the change.
    Like all things…. there is no free lunch.

  31. Kit Gerhart Says:

    30 They would absorb more heat than grass, but probably less than blacktop pavement.

  32. cwolf Says:

    I don’t understand what you are getting at. It is the vast amount of rising heat that is altering the wind patterns.

  33. Kit Gerhart Says:

    32 I’m just saying that heat rises from dark things, like blacktop parking lots and probably solar panels, while less heat rises from lighter colored things, like grass, and maybe desert sand.

  34. Lambo2015 Says:

    20-21 I would think any survey driven results would be bias. Just like for restaurants people are far more likely to fill out a card to complain than to say everything went well as it should.
    To me the best information would be actual warranty returns. What vehicles are returned under warranty and for what?

    Oh and Kit, not sure about Dodge but I’ve owned a 2018 and a 2020 Rams and haven’t had a single problem with either. So Dodge could have best initial quality today. You weren’t really comparing them to your 20+ year old van? I don’t think any OEs would want to held to the quality of their products from 20 some years ago. Not a fair assessment.

  35. Kit Gerhart Says:

    34 I was being a little facetious in comparing today’s Dodge products to my van. Still, I doubt that Dodge really has the best initial quality. While CR generally liked the Durango, their reliability survey data was not good. Apparently not many subscribers buy Charger or Challenger, because they don’t have enough data to show results by trouble area for either one.

    With CR vs. JDP survey results, it’s hard to know the biases, both in the response rate, and how honestly people would respond. I always respond to the CR surveys, and have returned the 2 or 3 unsolicited JDP surveys I’ve received over the years. I respond honestly to product surveys, but not everyone would. Yeah, warranty data would be very useful to know the real story about newer vehicles. Do manufactures release it, or can they be forced to release it?