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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.

2016 Mazda MX-5 Miata reveal to be livestreamed, feature Duran Duran

We're all hungry like the wolf to see the unveiling of the next-generation 2016 Mazda MX-5 Miata on September 3, but Mazda is seriously excited about taking the sheet of its latest droptop because it has 1980s New Wave act Duran Duran headlining the event. In case you can't make it to Monterey, CA, Tokyo or Barcelona to watch the reveal happen, the brand is also livestreaming it on YouTube starting at 6:00 PM PT (9:00 PM ET). The Miata is then showing its all-new face again during the broadcast of Fashion Rocks on CBS on September 9 at 9:00 PM ET.
Facts about the new MX-5 have remained elusive, but we saw its bare chassis at the 2014 New York show. The roadster was rumored to return to the classic oval grille from the earlier models and also shed a decent amount of weight over the current version, possibly around 300 pounds.
Don't worry about noting the big reveal in your calendars, though. Not only will Autoblog be in attendance in Monterey to hear Simon Le Bon belt out Rio, we will also publish another post linking to the livestream before the unveiling. In the meantime, scroll down to read Mazda's announcement and check out the link to the stream, which just shows a countdown at the moment.

2014 Mazda6 earns Popular Mechanics' 'Car of the Year'

Ring one up for Mazda. The Japanese brand's midsize offering, the Mazda6, has been named Popular Mechanics' Car of the Year. The 6 received a comprehensive reworking for the 2014 model year that saw it adopt sleek, sexy sheet metal; a clean, logical interior; and powertrain technologies that allow it to net some of the best fuel economy available in a gas-powered, non-hybrid sedan.
Popular Mechanics praised the 6's Skyactiv 2.5-liter, 184-horsepower engine, as well as its agility and responsiveness during testing. It also remarked on the functional, but well designed cabin, and the degree of available technology.
"The Mazda6 really impressed us with how well it delivers so many things modern car owners want: great mileage, fun road-handling, upscale features and looks - and remarkable value," said Jim Meigs, Editor-in-Chief of Popular Mechanics.