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Mazda seeks $2.8 billion in loans to ride out pandemic

TOKYO — Mazda has sought loans totaling about 300 billion yen ($2.8 billion) from Japan's three megabanks and other lenders to ride out the coronavirus epidemic, a source with direct knowledge of the matter said on Saturday. The megabanks — Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group and Mizuho Financial Group — along with the Development Bank of Japan, Sumitomo Mitsui Trust Holdings and others are set to agree, with some already having extended the loans, the person said, declining to be identified because the information is not public. All three megabanks declined to comment on the loan request, which was reported by the Nikkei business daily earlier. Mazda did not immediately respond to a request for comment.    Mazda, like most other automakers, has reduced or halted production at factories around the world for the past few months as governments try to limit the spread of the new coronavirus.     Mazda's car sales and balance sheet had been weak even before the virus slammed the brakes on demand, with its interest-bearing debt of 650 billion yen far exceeding its cash and cash equivalents, according to the Nikkei.    Mazda is scheduled to announce its financial results for the year ended in March on Thursday. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. 2019 Mazda3 Press Conference In 15 Minutes

Mazda says 83 percent of new cars bear Skyactiv moniker

Mazda's US sales are down a little bit but the company's fuel economy is almost assuredly up. That's because its fuel-saving Skyactiv drivetrain technology is essentially taking over US vehicles sales. To the tune of about five out of every six vehicles sold, at least. While the Japanese automaker's US sales in February fell 2.4 percent from a year earlier, Skyactiv accounted for 83 percent of its sales last month. Most notably, Mazda6 sales jumped 46 percent from a year earlier, while Mazda CX-5 sales were up 72 percent. The company also celebrated the opening of its factory in Salamanca, Mexico, where it will make models such as the Mazda2 and Mazda3. The company is not resting on its fuel-economy laurels either, apparently. In January, it was reported the company is hard at work on its next-generation Skyactiv technology, which will boost fuel efficiency by as much as 30 percent by using diesel-like high compression. As it is, Mazda had the highest fleetwide fuel economy of any major automaker in the US for the 2013 model year with a 27.5 mile per gallon average, according to the Environmental Protection Agency (EPA). Honda came in second with 27 mpg. Check out Mazda's press release below. MAZDA SKYACTIV® TECHNOLOGY SETS RECORDS IN FEBRUARY - Mazda Celebrates Grand Opening of All-New Production Facility in Salamanca, Mexico - IRVINE, Calif., March 3, 2014 /PRNewswire/ -- Mazda North American Operations (MNAO) today reported February U.S. sales of 24,431 vehicles, representing a decrease of 2.4 percent versus last year. Year-to-date sales through February are down 6.7 percent versus last year, with 43,155 vehicles sold. Key February sales notes: Mazda's SKYACTIV® TECHNOLOGY accounted for 83.2 percent of all vehicle sales during the month of February. This is the largest percentage of Mazdas equipped with SKYACTIV TECHNOLOGY sold in one month, and second-best month of total volume ever with 20,245 vehicles sold. Mazda6 experienced its second-best February since 2008 with 3,945 vehicles sold, representing an increase of 46.0 percent, year-over-year (YOY). February 2014 was CX-5's best month ever with 9,353 vehicles sold, good for an increase of 71.6 percent, YOY. February was one of the most historic months for Mazda as it celebrated the grand opening of its all-new engine and vehicle assembly plant in Salamanca, Mexico.

How Mazda got Skyactiv-X to work is incredible

"Take everything you know about engines and turn it around," Mazda North America Vehicle Development Engineer Dave Coleman says, patiently and with a look of benevolent pity, as he's quizzed about the particulars of the company's new engine. The Skyactiv-X engine is enigmatic — and deceptively simple in operation. And the bottom line for American consumers is that they'll be able to buy a car (or crossover; we don't know yet what vehicle will first get it) by late 2019 that provides diesel-like fuel economy but runs on regular old gasoline. In between diesel and spark ignition, but it's neither To truly understand it, you have to dive into the contradictions. Take that regular old gasoline: Contrary to common sense, the lower the octane, the better it works. In the lab, the Skyactiv-X engine loves 80 octane. The lowest Americans get is 87, so the engine is tuned for that octane. Go higher and you lose some low-end torque. Coleman was right. It's hard to wrap your head around an engine that thrives just at the point when most gas engines would aggressively self-destruct. It uses a supercharger to pump additional air — but not additional fuel. It uses spark plugs to start a combustion cycle that normally doesn't need a spark. And, quixotically, it's not displacing Mazda's own American-market diesel engine, currently languishing in a seemingly endless hell of regulatory approval. More bizarre: Mazda is a tiny automaker facing real existential headwinds, and gasoline compression ignition is a massive challenge. GM and Hyundai announced compression ignition, or HCCI, projects (full name, homogeneous charge compression ignition) to great fanfare, but they never amounted to a production hill of beans, crippled by reliability issues or horrible vibrations. Worse, they only worked at an unusably narrow range — low RPMs and low loads. HCCI research improved direct-injection gas and diesel engine technologies for these companies, but HCCI itself remains untamed. The benefits of lean combustion Why even try to tame HCCI? The answer is much better fuel economy and lower emissions. Less burned carbon-based fuel, less carbon dioxide released. That's simple. But there are some thermodynamic reasons for the lean combustion you can achieve with compression ignition that are worth explaining. The ideal amount of fuel for a conventional engine to burn is about a 14:1 air-to-fuel ratio. That lets every molecule burn nicely, in theory.