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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.

Tech of the Year special, plus we drive the hydrogen Mirai and more | Autoblog Podcast #809

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor James Riswick and Road Test Editor Zac Palmer. They kick the discussion off by talking about what they've been driving as of late, including the Toyota Mirai, Dodge Hornet, Alfa Romeo Tonale and a trio of subcompact SUVs. After that, they dive into a discussion about the 2023 Autoblog Technology of the Year award winner, which is Mercedes-Benz's Dolby Atmos Spatial Audio. Once they wrap up that segment, we get to hear the crew's latest Cybertruck takes from before the big reveal. Finally, the show wraps up with a fun Spend My Money segment. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #809 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown What we're driving 2023 Toyota Mirai 2023 Dodge Hornet 2024 Alfa Romeo Tonale 2024 Chevy Trax 2024 Kia Seltos 2024 Mazda CX-30 Turbo Technology of the Year winner and breakdown News Cybertruck preview Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: Green Podcasts Alfa Romeo Chevrolet Dodge Kia Mazda Mercedes-Benz Toyota Technology Infotainment Technology of the Year Crossover SUV Electric Luxury Performance Sedan Podcasts

Bighearted enthusiast rescues stranger's Mazda RX-7 from floods

With Tropical Storm Cristobal charting a path for the Gulf Coast, a Biloxi, Mississippi, local named Khuong Nguyen wanted to get his FD-series Mazda RX-7 out of the storm — the coupe had some bad seals that would let in rain. He parked the orange and black coupe in the bottom story of a parking garage at the city's Golden Nugget Casino, which kept the rain from getting in. But Cristobal came on stronger than expected, creating a new threat of water from below when the parking garage began to flood. Austin Owens, a Gulfport resident about 10 miles from Biloxi, saw photos of the RX-7 with water up to its rockers on a local Cars and Coffee page. As he would later tell Jalopnik, the RX-7 being one of Owens' dream cars, he decided he needed to rescue it. Just to make sure we're all on the same page, a young man braved a tropical storm in his own vehicle to save a stranger's RX-7 in another city. Owens dragooned a friend and hopped in a Ford Bronco, dodging closed roads and fording three or four feet of water on open roads. They drove to Home Depot to pick up cinder blocks, then headed to the Golden Nugget parking garage. As Owens and his friend arrived, they met Nguyen and a couple of his friends pulling Nguyen's second car, a Ferrari 360, out of the garage on a trailer. The RX-7 had already been set on wood blocks, thin bricks, and some orange wheel chocks, but the stilt job wasn't high enough in front; the water in parts of the garage was knee deep. Owens jacked up the RX-7 to get the cinder blocks under the front wheels; the rear end was fine, due to the slope of the garage floor. Success. As one of Nguyen's friends told Jalopnik, Owens' actions "did give us adequate time to combat the rising water." The success came at a cost, though, Owens reporting, "We actually killed the [BroncoÂ’s] transmission on the way out. We actually had to drive in second gear all the way home" due to floodwater seeping into the transmission. He has no regrets, explaining his derring-do with, “ItÂ’s a rare car ... I would hope somebody would do the same for me if I was in the situation with a car of that stature. I didnÂ’t have it in my heart to leave it there." With the story blowing up on Facebook, he told the legion of enthusiasts sending their respects, "Appreciate the love, but IÂ’d expect the same for one of my cars," followed by, "Alright, whoÂ’s down for some Forza?" Save for the original seal issue, the RX-7 came out of the storm with no issues.