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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.

Recharge Wrap-up: Tesla road rage video, Mazda tests EVs vs. hybrids

A Tesla Model S driver was caught driving recklessly in a dashcam video. On Toronto's Don Valley Parkway, the driver of a white Model S can bee seen speeding along the left shoulder. Another car moves partway onto the shoulder to block the driver, who moves back into the left lane. As traffic slows, the driver pulls back onto the shoulder and speeds away. The folks at Teslarati suggest that this serves as an example of why vehicle autonomy could make the roadways safer. See the video above, and read more at Teslarati. Formula E will be broadcast live on Italy's Rai network for the next two seasons. The programming will include the live races, as well as practice and qualifying highlights, podium celebrations, interviews and other pre- and post-race coverage. "It's a great opportunity for Formula E and motorsport fans to have Rai broadcasting the live races of our series in Italy," says Trulli Formula E team owner Jarno Trulli. "It's a step forward to make the series grow and get stronger after a successful first season. I'm looking forward to cooperate with Rai and show the Italian fans what we are truly doing with our technology." Read more from Formula E. A new study links a decline in cancer risk to California's air quality regulations. The study from CARB found that cancer risk from toxic air contaminants declined 76 percent from 1990 to 2012, a time period that corresponds with regulations targeting those contaminants. Even as the amount of diesel miles driven has steadily increased, cancer risk from diesel particulate matter has declined significantly. The paper predicts that cancer risk will continue to drop as a result of controls on toxic emissions. Read more at Green Car Congress. Mazda is conducting consumer trials of hybrid and electric vehicles in Japan to gauge reception. Depending on whether hybrids or EVs prove to be more popular, Mazda will adopt one of the two types of powertrain for future production vehicles. The automaker is currently testing an electric Mazda2 against a hybrid Mazda3. While this round of testing is focused on the automaker's home market, Mazda may need to expand trials to the US in response to tightening regulations in California. Read more at Green Car Reports.

Mazda recalls 1.37 million older vehicles for ignition switch short [UPDATE]

UPDATE: Mazda has confirmed to Autoblog that NHTSA's figures and list of effected models are accurate. Mazda is recalling 1,368,500 older vehicles in the US that date as far back as the late '80s because a potential short circuit in the ignition switch could cause a fire. According to the National Highway Traffic Safety Administration, the models include: 1990-1995 323 1993-1998 626 1993-1995 929 1989-1998 MPV 1993-1997 MX-6 1992-1993 MX-3 1990-1998 Protege Mazda reports that over time the grease around the switch's contact points can carbonize and become conductive, which can eventually lead to a short circuit. In some cases this results in smoke, but it could also lead to a fire. According to company spokesperson Tamara Mlynarczyk to Autoblog, there're no accidents, injuries, or fires in the US. Once the vehicle is running, the potential fault also doesn't affect drivability. Documents from NHTSA (as a PDF), indicate there was a fire in one of these vehicles in Japan in 2002 that could have been linked to this issue. The recall should begin in December. In its announcement of the issue below, Mazda reports 1.2 million vehicles affected and includes the 1990-1996 323/Protege. Autoblog has reached out to the company to understand the discrepancy. Related Video: RECALL Subject : Ignition Switch may Overheat Report Receipt Date: OCT 19, 2015 NHTSA Campaign Number: 15V674000 Component(s): ELECTRICAL SYSTEM Potential Number of Units Affected: 1,368,500 All Products Associated with this Recall Vehicle Make Model Model Year(s) MAZDA 323 1990-1995 MAZDA 626 1993-1998 MAZDA 929 1993-1995 MAZDA MPV 1989-1998 MAZDA MX-6 1993-1997 MAZDA MX3 1992-1993 MAZDA PROTEGE 1990-1998 Details Manufacturer: Mazda North American Operations SUMMARY: Mazda North American Operations (Mazda) is recalling certain model year 1989-1998 MPV, 1990-1995 323, 1990-1998 Protege, 1992-1993 MX-3, 1993-1995 929, 1993-1997 MX-6, and 1993-1998 626 vehicles. In the affected vehicles, grease applied to the contact points inside the ignition switch may become conductive and overheat. CONSEQUENCE: If the ignition switch overheats there would be an increased risk of a fire. REMEDY: Mazda will notify owners, and dealers will replace the ignition switch, free of charge. The recall is expected to begin December 15, 2015. Owners may contact Mazda Customer Experience Center at 1-800-222-5500, option#6. Mazda's number for this recall is 8715J.