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Toyota and Mazda in talks to build joint US auto plant

UPDATE: The Toyota-Mazda deal has been announced. A newer version of this story appears here. Toyota Motor Corp and rival Mazda Motor Corp are expected to announce plans on Friday to launch a joint venture and build a new U.S. assembly plant, a person briefed on the matter said. A new auto plant would be a major boost to U.S. President Donald Trump, who campaigned on promises to boost manufacturing and expand employment for American autoworkers. Japan's Nikkei reported on Thursday that Toyota would take a roughly five-percent stake in Mazda Motor Corp to develop key electric vehicle technologies and jointly build a factory in the United States. The deal could be announced as soon as Friday, the newspaper said. The person briefed on the matter, who was not authorized to speak to the media and requested anonymity, confirmed the Japanese carmakers were planning to build a large plant in a yet to be determined U.S. location and planned future joint efforts on electric vehicles. The same source declined to offer further details, however. Toyota, in a statement, said the two companies have been exploring various areas of collaboration under a May 2015 agreement. "We intend to submit a proposal to our board of directors today regarding the partnership with Mazda, however, we would like to refrain from providing further comment at this time," Toyota said in a statement issued by its U.S. operations. Mazda said in statement that "nothing has been decided yet" and added the company "will have a board meeting on this matter today. We cannot comment any further." Toyota, the world's second-largest automaker by vehicle sales in 2016 and Japan's dominant car company, has been forging alliances with smaller Japanese rivals for several years, effectively consolidating the Japanese auto sector. A new U.S. assembly plant would likely become the prize in a fierce competition among Midwestern and Southern states eager to expand manufacturing jobs. Trump in January criticized Toyota for importing cars to the United States from Mexico. The Republican president also threatened to impose a hefty fee on Toyota if it were to build its Corolla cars for the U.S. market at a plant in Mexico. "Toyota Motor said will build a new plant in Baja, Mexico, to build Corolla cars for U.S. NO WAY! Build plant in U.S. or pay big border tax," Trump said in a post on Twitter. But since January, Trump has praised Toyota for its U.S. investments.

Japanese automakers welcome North American trade deal, fear what's next

TOKYO — Toyota, Nissan and Mazda welcomed on Tuesday the revised North America trade deal that left Japanese automakers unscathed, but they may face a bumpy ride when Washington and Tokyo hold new talks on over $40 billion of annual U.S. auto imports from Japan. The United States and Canada reached an agreement on Sunday to update the 1994 North American Free Trade Agreement after Washington had forged a separate trade deal with Mexico in August. The updated deal effectively maintains the auto industry's current footprint in North America, and spares Canada and Mexico from the prospect of U.S. national security tariffs on their vehicles. Mazda, which ships cars to the United States from Mexico and Japan, called the deal a "big step forward". Nissan, which makes the cars it sells in the United States locally as well as in Mexico, Japan and other countries, said it was "encouraged" by the agreement. Toyota, Japan's biggest automaker, said it was "pleased" that a basic deal was reached. Other automakers were not immediately available for comment. While the deal has removed the risk that the disintegration of the pact would have posed to automakers, bigger risks loom large for Japanese firms as a chunk of the roughly 7 million cars they sold in the U.S. last year were shipped from Japan, and a trade deal between Washington and Tokyo has yet to be agreed. The United States and Japan last week agreed to begin fresh trade talks, with U.S. President Donald Trump seeking to address Japan's $69 billion trade surplus, of which nearly two-thirds comes from auto exports. Washington is also investigating the possibility of slapping 25 percent tariffs on auto imports on national security grounds, although it has agreed with Japan to put any new tariffs on hold during the talks. Analysts say the United States may take a tougher stance on auto imports from Japan than from its neighbors. "If Japan requests an exemption from the 25 percent tariffs under consideration, Washington could propose a more strict cap on imports than it agreed to with Mexico and Canada," said Koji Endo, senior analyst at SBI Securities. "That would be a risk." This could be a big blow to Japan, as the United States is a key source of revenue for Japanese automakers including Toyota, Nissan and Honda. The U.S. market accounts for a quarter or more of their annual global vehicle sales, and of their total U.S.

Super-rare Mazda MX-5 Miata coupe pops up for sale

It's somehow fascinating that one of the most interesting developments of Mazda's MX-5 Miata roadster is the one that isn't a roadster at all. Unlike the NC and ND generations with retractable power hardtops, the second-generation NB Miata got a special coupe version with a fixed roof, done in the style of the first-generation coupe concept. We're talking very limited production numbers: just 179 of these NB coupes were made, and they were all Japanese-market models, so it's not often that one comes up for sale. Except now. Itself even more of a limited-edition car, this sportier Type S version residing in Hong Kong and advertised on Pistonheads is one of just 63 made. It's right-hand-drive, as both its Japanese market origins and Hong Kong regulations dictate, and out of the available engine variations it comes with the 1840cc unit and a six-speed manual gearbox. What's more, despite its low 30,000 miles, the 2004 fixed-roof Miata is said to be fully overhauled and restored to as-new condition. We can't imagine those coupe-specific parts such as glass and trim are easy to source, so with these extremely rare cars it's probably best to go with the best condition example you can find, if you can find one to begin with. Rust hits all old Miatas at some point. With that backdrop, the GBP30,000 ($38,700) asking price doesn't seem all that unreasonable. With the Miata's enormous enthusiast base, there are now aftermarket solutions that imitate the flowing lines of the rare factory coupe, but they do lack the strengthening that Mazda's specialty skunkworks shop put in these — and the body-stiffening roof adds a mere 22 pounds to the car's dainty overall weight. For some lucky Miata hobbyist, this particular red coupe might be the crown jewel of their roadster collection. Related Video: