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Subaru, Mazda profits dip; both blame exchange rates

While some larger automakers took a beating on Q4 earnings, some of Japan's smaller operations managed to keep their heads just above water despite currency issues and slumping sales industry-wide. Subaru, which capped off its 11th consecutive year of U.S. sales increases, reported a 42-percent drop in operating profit in the final quarter of 2019; Mazda, which operates on an even smaller scale, saw a 76-percent drop.  Per Automotive News, both companies faced challenges apart from navigating currency exchanges.  Subaru Subaru's 2019 was marred by warranty costs stemming from repairs on high-volume models, including the Impreza and Crosstrek. Despite the drop in profit, company revenues only slid 2.3 percent. The company also says that it has managed to curtail incentive spending, largely thanks to replacement models that needed less help moving out of showrooms.  America remained a bright spot, with 2019 sales volumes increasing by nearly 3 percent over 2018. Subaru is hoping that figure will increase to 4.0 percent in 2020. Subaru's wholesale deliveries also increased in western Europe, but dropped precipitously (28 percent) in the company's home market.  Mazda The smaller Mazda faced similar challenges, but its 2019 lacked some of Subaru's more dramatic bright spots. Worldwide shipments of new vehicles dropped by 8 percent, aiding a revenue decline of 5 percent. Mazda's vehicles remained profitable on a per-unit basis, but only just.  Mazda has been undergoing aggressive cost-cutting measures, but even those were no match for reduced volumes and unattractive currency exchange rates.  Despite these challenges, both companies are keeping their earnings outlooks unchanged. The fourth quarter of 2019 represented the third quarter in both companies' fiscal years, which will end in March.  Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. 2020 Subaru WRX STI S209 | POV Drive

Automakers are offering more fuel-efficient cars than ever

Even with gas prices near their lowest point in more than a decade, Americans are still concerned about the fuel economy of their cars. More than 4 in 5 consumers say gas mileage will be an important consideration the next time they go shopping for a vehicle, according to the results of a new survey conducted by the Consumer Federation of America, which were released Monday. That's no surprise, says Jack Gillis, director of public affairs for the nonprofit organization. "Consumers have had a long history with volatile gas prices," he said. Though motorists have saved approximately $12 billion this year at the pump compared to 2015, according to AAA, car shoppers expect gas prices to rise again in the future. The average respondent to CFA's survey predicted a price of $3.50 per gallon within the next five years, a figure in line with projections made by the US Energy Information Administration. When those consumers visit dealerships, they'll have plenty of options. More models than ever are achieving 30 miles per gallon or more, according to CFA's annual analysis released in conjunction with the survey, and 15 of 16 major car companies improved their fuel efficiency on their 2016 model-year offerings. Only Ford backslid year over year, per the report. Researchers say American consumers are now enjoying the widest range of fuel-efficient options ever offered, in every vehicle class. Of 1,094 models on sale in 2016, 13.4 percent achieved more than 30 MPGs, an improvement from 11.7 percent in 2015. At the same time, the percentage of gas guzzlers offered for sale has declined. The percentage of vehicles on the market that get 16 miles per gallon or less has fallen from 6.1 percent to 4 percent, says CFA. "Even if you're in the market for a large pickup or SUV, you'd have to go out of your way to find a true gas guzzler," Gillis said. ""Consumers have had a long history with volatile gas prices." – Jack Gillis These results, the CFA suggests, indicate federal standards that prod automakers to invest in fuel-efficient technology are having the desired effect. Manufacturers are keeping pace with the requirements of the Corporate Average Fuel Economy standards, which mandate carmakers achieve a standard of 52.5 miles per gallon in testing, equivalent to about 40 miles per gallon in on-road performance, by 2025. CFA's report singled out Mazda as setting an exemplary standard.

Mountain goats provide full service car wash at national park

A group of plucky mountain goats in a Canadian national park apparently found the hardscrabble life of a common animal too tedious and tried their hands, rather tongues, at car detailing. YouTube user Darkrider1287 uploaded this video of the goats in action last week. His companion were driving along Maligne Valley Road in Alberta's Jasper National Park when a handful of young mountain goats descended on their Mazda. As the bewildered couple stopped their car, the goats surrounded them and proceeded to lick the vehicle clean. Knowing a good video opportunity when he saw one, Darkrider pulled out his phone to film the endearing and hilarious scene. For thirty minutes, the mountain goats licked the car clean from stem to stern. Paying little to no mind to the humans within, the goats cleared the Mazda of its accumulation of dust, bugs, pollen, and other tasty road grime. "So thorough!" said Darkrider as he narrated his video. "That's some tasty dust!" As the goats cleaned the car, other tourists stopped to laugh and take pictures of the strange scene. Eventually, a handful of cars and as many as ten goats had the Mazda surrounded. "Within a few minutes, we were crowded by both sheep and also tourists taking pictures of our funny plight," Darkrider stated in a comment on the video. "We stayed for about 30 minutes before moving on due to a rainstorm." So what exactly is going on here? A similar event happened to a National Geographic reporter in the same park in 2012. A park ranger told the report that the mountain goats were addicted to the salt used in Alberta to keep the roads from freezing. Even in August, salt can still make its way on to a car in the form of road dust. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. News Source: The Daily Mail, YouTube, National Geographic Auto News Humor Weird Car News Mazda Driving goat