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Junkyard Gem: 1991 Mercury Capri XR2

Just a year after the Mazda MX-5 Miata first went on sale in the United States, Ford's Mercury Division began selling a similarly-priced two-seat convertible here. This was the 1991-1994 Mercury Capri, and I've found an example of the hot-rod turbocharged version in a northeastern Colorado car graveyard. The Capri name has an illustrious history within the Ford Empire. First used on a Lincoln in 1952, it went on to serve as the name for a hardtop version of the early-1960s Ford Consul in the UK, then as the designation for a low-end trim level on the 1966-1967 Mercury Comet. Starting in the 1969 model year in Europe (1970 in North America), Ford began selling the best-known Capri of all: a sporty coupe based on the Cortina, sold through Mercury dealers in the United States but never badged as a Mercury here. Sales of that Capri halted here after 1978 (they continued through 1986 in Europe), but the Mercury Division then moved the name over to its version of the 1979-1986 Ford Mustang. After that, Ford Australia took the Capri name for a new Mazda 323-based sports car beginning in 1989. Then Dearborn decided that an Americanized version of the Australian Capri would be a success on this side of the Pacific, and left-hand-drive Capris began showing up in American Mercury showrooms in late 1990. Today's Junkyard Gem is one of those first-model-year cars, and it's the very rare turbocharged XR2 version. While this car was intended to be a competitor for the Miata, it's really that car's Mazda cousin. Both cars got their power from 1.6-liter versions of Mazda's versatile B engine, though the Capri had the same front-wheel-drive setup as its 323/Protege (and Escort/Tracer) platform siblings. At the same time, Ford was selling Kia-built Mazdas with Festiva (and, a bit later, Aspire) badging, alongside Mazda MX-6s with Probe badges. Just to make things interesting, American Mazda dealers were selling Ford Explorers as Mazda Navajos, while Rangers with Mazda badges followed starting in 1994. The 1990s were Mazda-riffic times at Ford! This car wasn't the first Australian-designed, Mazda-based Ford product sold in the United States. That honor belongs to the 1988-1989 Mercury Tracer, which was based on the same Mazda 323 platform as the Capri and built in Mexico. Later on, the Tracer remained a member of the 323 chassis family but was a nearly identical twin to its Ford Escort sibling.

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.

2016 Mazda MX-5 Miata to be revealed on September 3 [w/video]

Now in its 25th year and on the market in its current form since 2005, the Mazda MX-5 Miata has been due for replacement for some time now. A mid-life facelift helped things along some in 2008, but the moment that roadster enthusiasts have been anxiously awaiting is almost upon us.
Mazda has now confirmed that the 2016 MX-5 will be officially unveiled on September 3 at Mazda Raceway Laguna Seca just ahead of the "Miatas at Mazda Raceway" event, where the Japanese automaker will also display "an array of heritage, concept and motorsports MX-5s," just as it did alongside the upcoming new roadster's Skyactiv chassis at the New York Auto Show.
Not to leave the European and Asian markets out of the fun, Mazda will simultaneously unveil the new Miata in Spain and Japan as well. But in the meantime you can view the teaser video and press release below to keep that excitement drummed up.