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This is the 2017 Mazda MX-5 RF targa-roof fastback

We knew Mazda was going to introduce a new Miata variant ahead of the 2016 New York International Auto Show, but the smart money was on a power retractable hardtop version that largely mirrored the last-gen car's folding number. So it was a surprise when the new 2017 Mazda MX-5 RF – retractable fastback – drove onto the stage sporting wild buttresses and a hide-away targa roof panel. The buttresses lift up and swallow the rear window and roof panel in a matter of seconds, and then the buttresses snug back down. This leaves a hoop spanning the buttresses, but at least it's done up in black to be less visually apparent. The result is more of a targa roof experience, rather than the previous PRHT which gave occupants essentially the same experience as the soft-top with the top down. No matter. The result is stunning, and will differentiate the RF even more from the standard MX-5. Mazda designers took extra care to make sure the interface between the MX-5's dramatic fenders and the trailing edges of the roof support provided enough visual drama. Mission accomplished, we'd say. We can't take our eyes off that part of the car. View 13 Photos As you might expect, mechanical changes seem to be minor, although we'll be asking for detailed specs. Both the 1.5- and 2.0-liter engines will be available globally, but only the 2.0-liter Skyactiv-G engine will be sold in the US. The roof can be operated at up to 6.2 mph. Mazda claims the truck space is unaltered from the soft-top model. We don't yet know how much, if any, the RF's mechanism adds to the bantamweight roadster, nor the premium it'll command. Expect those details closer to launch. Related Video:

4 automakers agree to $553M settlement of Takata airbag claims

WASHINGTON (Reuters) - Four automakers agreed to a $553 million settlement to address class-action economic loss claims covering owners of nearly 16 million vehicles with potentially defective Takata airbag inflators, according to court documents filed on Thursday. Toyota's share of the settlement costs is $278.5 million, followed by BMW at $131 million, Mazda at $76 million and Subaru at $68 million. According to a press release from Plaintiffs' Committee for Takata Airbag Product Liability Litigation, the funds for the settlement are aimed at getting more cars with faulty airbags fixed. At the time of writing, Toyota had the greatest recall completion percentage of 31.89 percent followed by Subaru with 31.37 percent. Mazda has completed repairs on 18.16 percent of affected cars, and BMW brings up the rear with 16.48 percent completion. Some settlement funds will go to an outreach campaign to increase awareness, while other funds will be used to reimburse people for any costs accrued to get their cars fixed. These costs can include rental cars, child care, lost wages, or any other reasonable costs associated with bringing in a vehicle for repairs. Furthermore, a customer support program will be funded with settlement money to handle any additional repairs or adjustments that could become necessary in the 75,000 miles following the airbag replacement. Lawsuits against Honda, Ford and Nissan have not been settled, lawyers said. Takata inflators, which can explode with excessive force and unleash metal shrapnel inside cars and trucks, are blamed for at least 16 deaths and more than 180 injuries worldwide. The safety defect has prompted recalls worldwide of about 100 million inflators by more than a dozen major automakers. Reporting by David Shepardson, additional details by Autoblog's Joel StocksdaleRelated Video: Government/Legal BMW Mazda Subaru Toyota

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.