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Mazda seeks $2.8 billion in loans to ride out pandemic

TOKYO — Mazda has sought loans totaling about 300 billion yen ($2.8 billion) from Japan's three megabanks and other lenders to ride out the coronavirus epidemic, a source with direct knowledge of the matter said on Saturday. The megabanks — Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group and Mizuho Financial Group — along with the Development Bank of Japan, Sumitomo Mitsui Trust Holdings and others are set to agree, with some already having extended the loans, the person said, declining to be identified because the information is not public. All three megabanks declined to comment on the loan request, which was reported by the Nikkei business daily earlier. Mazda did not immediately respond to a request for comment.    Mazda, like most other automakers, has reduced or halted production at factories around the world for the past few months as governments try to limit the spread of the new coronavirus.     Mazda's car sales and balance sheet had been weak even before the virus slammed the brakes on demand, with its interest-bearing debt of 650 billion yen far exceeding its cash and cash equivalents, according to the Nikkei.    Mazda is scheduled to announce its financial results for the year ended in March on Thursday. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. 2019 Mazda3 Press Conference In 15 Minutes

2019 Mazda3 AWD First Drive Review | Unconventionally incredible

Here's some quick consumer advice: If you were considering buying one of those "premium" AWD compact sedans like the Audi A3 Quattro or the Mercedes CLA250 4Matic, don't you dare, because the 2019 Mazda3 AWD is a far better car than either. And you can have one for under $25,000. Not only does the little Mazda have an interior far nicer than any of its actual competitors, it also drives better than almost all of them, and it's prettier than any car at this segment has a right to be. (I'm talking about the sedan here, not the Mazda3 Hunchback Hatchback.) In short, if you need all-wheel drive but hate the idea of a wasteful, copycat SUV, or if you want a compact sedan and don't want your friends to think you're in a rental car, buy a new Mazda3. Got it? Good. That was easy. But for those of you who want to know how the Mazda3 AWD became so special, I need to give you some background information. Specifically, I need to tell you about my friend John, because we all have a friend like John, and Mazda is like John. John is a genius. Like, a certified, bona-fide human supercomputer. He understands more about most subjects than experts on those subjects. And he walks straight into a wall three times a day. Mazda and John have a lot in common. You might look at some of the things they do and think they're not paying attention. But if you take the time to dig deeper, you learn that there's amazing stuff going on beneath the surface. For example, you might wonder why the Mazda3 has two fuel gauges, one analog and the other a digital facsimile of that analog gauge, four inches apart. Or you may scratch your head that Mazda finally installed Apple CarPlay and Android Auto functionality, only to get rid of the touchscreen those systems are designed to use. You might wonder why a powertrain designed from stem to stern in the name of efficiency — we're talking cylinder-deactivation on a four-cylinder! — can't match the fuel economy of most of its more traditionally engineered competitors. And then you walk towards this car and momentarily forget all of this. The Mazda3 sedan oozes sex appeal. Open the door, get in, and you'll plunk yourself into a seat that's positioned like it's in a sports car: your hips are low, the steering wheel is squarely in front of you, and your legs aren't bunched against a firewall that's a foot too close.

Mazda's next-gen SkyActiv engines will drop spark plugs in favor of high compression

Homogeneous charge compression ignition, or HCCI, is the black art of internal combustion engines that aims to produce diesel-like fuel efficiency for the cost of gasoline. Although some of its competitors have developed and subsequently given up on the tech, Mazda confirmed that the next-generation of SkyActiv engines will employ HCCI technology, improving fuel economy by 30 percent and at the same time reducing exhaust emissions. According to Nikkei, a new SkyActiv family of engines is set to debut under the hood of the next-gen Mazda3 sometime in 2018 before making its way into other vehicles. In simple terms, an engine that uses HCCI burns the air/fuel mix using pressure instead of with spark plugs, just like a diesel. At 14:1, Mazda's gasoline engines already have some of the highest compression ratios out there, but a move to HCCI means cranking up the compression to 18:1. While the tech sounds relatively straightforward, using HCCI means dealing with a number of side issues. It's one of those "on paper" ideas that compounds problems when put into practice. Heat, revs, and fuel must all be carefully managed as gasoline doesn't burn the same way as diesel. Mazda is mum on details, but the automaker seems confident that the issues have been sorted. If the new engines do indeed make it to market with HCCI, Mazda will have out-engineered GM, Daimler, and Hyundai, all of which have tried and failed to develop HCCI engines in a cost-effective package. With the market moving towards electrification, it's interesting to see Mazda still focusing so heavily on traditional internal combustion gasoline engines. It's an indication of where they see the market heading for the next few years. Although the automaker has been hesitant to move forward with hybrid and electric powertrains, Nikkei also reports that Mazda will begin mass production of EVs in 2019. Related Video: