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Mazda's first profit in five years in sight due to weak yen

Automotive News reports Mazda is set to turn a profit for the first time in five years. The automaker is more dependent on exports from Japan than other automakers based in that country, and as a result, it has long suffered at the hands of a strong yen. But the currency has declined in value by some 16 percent over the past six months and Mazda's shares have tripled in value to their highest level since 2008. Contrast this situation to a year ago when Mazda printed 1.22 billion new shares to raise cash. The move was equivalent to 70 percent of the company's then-outstanding stock, and values tumbled to record lows as a result.
Now that the yen has fallen to a value of around 96 per dollar, Mazda operations in the US are more profitable and the company now projects it will earn around $279 million for the next fiscal year. Automotive News says a one yen change against the dollar can have a 9.1 percent impact on Mazda operating profit compared to 4.7 percent at Subaru parent Fuji Heavy Industries or 3.1 percent at Toyota. Those automakers better insulate themselves from currency fluctuations with overseas manufacturing facilities.

United States drivers buying fewer Mexican-made cars

Crossovers and pickup trucks are not only growing in market share, they're also more profitable than cars. A crossover on the same platform as a sedan retails for thousands more, despite similar components. It's one of the reasons we've seen automakers rapidly shifting production of their sedans and hatchbacks to Mexico, where cheap labor preserves the thin profit margins on these inexpensive vehicles. But as the market continues to shift in the United States, Mexico is getting burned by its lack of product diversity. The country's auto exports, which are heavy on cars, suffered a 16-percent drop last month, Automotive News reports. In total, year-over-year exports fell from 233,515 to 197,020 last month, while year-to-date exports are down by 7.4 percent, from 922,029 to 854,118. The number one culprit? America – which usually accounts for 75 percent of Mexico's exports – and its appetite for crossovers and pickup trucks bolstered by cheap gas prices. While Mexico does build some light truck models – AN specifically calls out the Ram 2500, Honda HR-V, GMC Sierra, and Toyota Tacoma as export leaders – the vast majority of vehicles rolling out of its factories are sedans and hatchbacks. In fact, the three biggest drops in Mexican exports came from companies whose south of the border factories only build cars – Ford (Fusion/Lincoln MKZ and Fiesta), Mazda (Mazda3), and Volkswagen (Golf and Jetta). Mexican Automotive Industry Association President Eduardo Solis told AN the export shortfall will likely be sorted out sooner rather than later, thanks to a pair of new factories – a Kia car factory and an Audi SUV plant – that are coming online by year's end. The two facilities will add around 100,000 vehicles to the country's export totals, which Solis said should leave the industry on the verge of breaking another export record in 2016. But how sustainable will these record-breaking years be? Slapping an "Hecho en Mexico" sticker on a new German SUV won't be enough to change the fact that Mexico's product mix is tilted too heavily towards body styles that are not growing in volume. Mexico's record-breaking export years probably aren't at an end, but we'd argue they're certainly under threat. News Source: Automotive News - sub. req.Image Credit: Omar Torres / AFP / Getty Images Plants/Manufacturing Ford GMC Honda Mazda RAM Volkswagen Truck Crossover SUV Mexico

First batch of 2016 Mazda MX-5 Miatas lands in US [w/video]

Have you been patiently awaiting the arrival of the all-new 2016 Mazda MX-5 Miata? Then we're glad to report that your patience has paid off. In fact, even if you haven't been so patient, we're still glad to report that the wait is finally over, as the first batch of the new Japanese roadsters has arrived on American soil. The initial batch of several hundred MX-5s arrived at the port of San Diego from the factory in Hiroshima on board the Phoenix Leader, a 636-foot vehicle carrier ship registered in Panama and operated by Japanese shipping giant NYK Lines. The vehicles are currently being processed at the SoCal port, with deliveries to commence "in the next several weeks," according to Mazda in the brief statement below. The fourth-generation Miata, designated generation ND, mad its global debut at the Paris Motor Show, and its US debut at the LA Auto Show. Production commenced in Japan this past March. The new roadster arrives in US showrooms with a 2.0-liter four-cylinder engine (the smaller 1.5 kept away from these shores), a six-speed manual (replacing the previous five-cogger), a folding soft roof (no retractable hard top this time), and a starting MSRP of $24,915 (plus an $820 destination charge). That, of course, is for the base Sport model, with higher-spec Club and Grand Touring trims also on offer. Along with the images above, you can watch footage of the vehicles driving off the ship in the video below. Might we recommend, however, muting the cheesy soundtrack and playing something more suitable over it instead. Neil Diamond's (Coming to) America ought to do the trick... today! This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Mazda Welcomes the First Shipment of All-New 2016 MX-5s Mazda North American Operations today welcomed the first shipment of the all-new 2016 MX-5s. They will begin their port processing procedures and deliveries will follow in the next several weeks. Featured Gallery 2016 Mazda MX-5 Miata: US Arrival Mazda Convertible Performance mazda mx-5 san diego port