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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.

RingBanana Miata breaks 9-min Nurburgring barrier

The RingBanana is a cheap Mazda MX-5 Miata on a screaming mission: to lap the Nurburgring in under nine minutes. And let us emphasize the word "cheap." The team wanted the least expensive Miata they could find that still ran, and then wanted to spend the least amount of money possible in order to hit their target mark. We don't know how much they spent on the Ringbanana, but they were so indiscriminate about the purchase that they don't know what year the car is. They only know that it's got 90 horsepower, green springs, Fulda tires, and "it's completely crap." After setting a base lap of 9:21.8 the guys behind the project figured they'd have a fair bit of work. Turns out a new set of Kumho V70A semi-slick, road-legal race tires paired with Gabriel Pirana's driving is all they needed. With just that mod Pirana set a lap time of 8:59.9, and that was while having to deal with one spot of slow traffic that was getting around a stricken car. According to Wikipedia, this puts them between a 2010 Range Rover Sport Supercharged and a 2007 Chevrolet Cobalt SS. Even though the team achieved its goal on its first attempt, the Ringbanana game isn't over – there's probably a suspension mod in the near future while the guys figure out just how quickly they can go. The video above does a good job of showing just how fun it can be driving a slow car fast.

Mazda teases electric car again with peek at interior

Mazda is again touting the new electric vehicle it plans to reveal at the Tokyo Motor Show, this time teasing it from the inside. A 15-second video homes in on features found on the center console, namely, the blocky shifter for the automatic transmission, a large, knurled rotary dial for infotainment control, and a smaller dial we'll assume is for volume control. As for what else we can make out, if we were to guess, we'd say the slick surface to the right of the shifter is a screen. It'll be interesting to see how Mazda designers filled the space between the seats, but we're surprised Mazda went with such a substantial shifter; this being an EV on a new, dedicated platform, designers could have minimized the focus on shifting and opened up a host of other uses.  A brief press release informs us that Mazda's worked to liberate the cabin from structural clutter, though. The brand says the interior is "designed to give occupants a feeling of being 'enveloped in openness,'" and that the "goal [is] to make spending time in the car a comforting experience that allows customers to be themselves." Empty spaces throughout the center console "create a connection between the driver and passenger seat areas," so perhaps what looks like a free-floating console demo section in the video is what the unit will look like in the car. Elsewhere, the EV will feature eco-friendly materials. The EV isn't expected to make it to America, its powertrain designed to satisfy residents of particularly dense urban environments. The running gear should stick close to the drivetrain developed for the e-TPV prototype, meaning a 35.5-kWh battery powering a single electric motor at the front axle producing 138 horsepower and 195 pound-feet of torque, and a single-speed transmission. Range is thought to be around 120 to 150 miles on a charge. The onboard charger can handle 6.6-kW home charging and 50-kW rapid charging. Eventually, a range-extender version with a rotary engine should join the lineup; Mazda said it chose a rotary because even though it's less efficient than competitors' ICE range extenders, it's so much quieter. The debut of what everyone expects to look like a crossover happens on Oct. 23.