2003 Mazda Mpv Lx Standard Passenger Van 3-door 3.0l on 2040-cars

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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.

Hyundai, Mazda and Ford offering support to victims of Colorado flooding

Hyundai, Mazda and Ford have initiated programs to aid victims of the recent floods across Colorado. Hyundai is stepping in to give help directly to drivers, offering those with flood-damaged vehicles a $750 credit on a new Hyundai. "At this stressful time, the last thing flood victims should be concerned with is how they are going to replace their water-damaged or destroyed vehicles," Dave Zuchowski, executive vice president of Hyundai's American sales, said.
The Hyundai program will run from September 18 through the end of October, and will cover all citizens in counties declared disaster areas by FEMA. Residents will need to provide proof of residency and a letter from their insurance company describing the damage to their vehicle.
Mazda, on Friday, announced that it'd be donating $25,000 to the American Red Cross and a further $15,000 to the Humane Society of Boulder Valley, in the name of disaster relief. Mazda's President and CEO, Jim O'Sullivan, said, "The flooding across the states of Colorado, Texas and New Mexico has been absolutely devastating for not only the people living there but their four-legged loved ones as well. Mazda hopes that those in need can get the help they deserve through such great organizations as American Red Cross and Humane Society of Boulder Valley."

Which car companies are creating new jobs in America?

Since January, automakers have announced investments totaling $9.5 billion in U.S. plants, creating or retaining more than 12,000 jobs. Some of those companies have yet to announce just how many jobs will be created given their investments, with the location of many of those jobs still to be determined. Specifically, the 4,000-job Toyota-Mazda joint venture plant still hasn't announced its location, with numerous states jockeying for it. Hyundai has plans to invest $1 billion but has not announced a jobs number yet. And likewise Ford is investing $1.2 billion in Michigan without specifying a number of jobs. Volvo this week announced plans to add a second line to its factory under construction in South Carolina, spending another $500 million and adding 2,500 jobs to the 2,000 it was already trying to fill. Then Thursday, Daimler announced a $1 billion expansion to its facility in Tuscaloosa, Ala., to produce EV batteries and electric SUVs, a move that will add 600 jobs to its hiring this year. Above, we've created a handy pie chart showing you which companies have announced new jobs and how many there will be. Reporting by Paul Lienert in Detroit News Source: Reuters Plants/Manufacturing BMW Chrysler Ford GM Honda Hyundai Mazda Mercedes-Benz Toyota Volvo jobs