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Toyota will build new SUV at Alabama plant it's building with Mazda

WASHINGTON — Toyota Motor Corp said Wednesday it will build a new sport utility vehicle at its $1.6 billion joint venture assembly plant in Alabama rather than produce Corolla cars. The largest Japanese automaker announced in January 2018 it would build the factory in Alabama in a joint venture with Mazda. Toyota said the shift is due to "a growing consumer appetite for light trucks and SUVs." Mazda announced in February 2019 that it would build a new SUV at the plant. Toyota said it still expects the plan to start production in 2021. Construction remains on schedule, and hiring has begun. The plant could create up to 4,000 new jobs and build 300,000 vehicles annually. Corolla production will remain at Toyota's plant in Blue Springs, Miss.

Honda sees sales up but profit sliding 16 percent in 2017-18

TOKYO - Honda forecasts a 16 percent fall in operating profit for the current financial year as the Japanese automaker sees higher auto sales being offset by a stronger yen and research-and-development costs. Japan's No. 3 automaker said it expects an operating profit of 705 billion yen ($6.34 billion) in the current FY2018, down from 840.7 billion yen posted in the fiscal year just ended, and lower than an average estimate of 850.8 billion yen from 23 analysts polled by Thomson Reuters I/B/E/S. It sees a 14 percent slide in net profit to 530.0 billion yen this year, down from 616.5. Honda's projections are based on a forecast that the yen will average 105 yen to the U.S. dollar through next March, stronger than the 108 yen rate in the year just ended.BUT CAR SALES ARE UP At the same time, there's good news as Honda expects its global vehicle sales to edge up 1 percent to 5.08 million this year, bolstered by growth in Asian sales to 2.06 million units, beating out North America to become Honda's top market as more Chinese drivers flock to its cars. The company expects to sell 1.92 million vehicles in North America, 2.5 percent less than the year just ended as it struggles to sell sedans including the Accord, which have fallen out of fashion in the past few years. Honda has been ramping up production of SUVs to keep up with strong demand for larger models in the United States, although overall vehicle sales show signs of slowing following a boom cycle after the global financial crisis. Mazda is taking a similar strategy, announcing on Friday it would expand production of SUV crossover models at home, while equipping overseas plants to enable more flexible production of models according to market needs. Japan's No. 5 automaker forecast a 19 percent jump in operating profit for the current financial year as it expects higher sales volumes, particularly in North America, to help it recover from last year's profit slump.A CONSERVATIVE OUTLOOK Executive Vice President Seiji Kuraishi acknowledged that Honda's expected currency hit of 95 billion yen was based on a "conservative" yen forecast, adding that growing costs to create next-generation cars would also impact earnings. "Our costs are rising to develop new technologies which will be needed in the future, like automated driving functions and electric cars," he told reporters at a results briefing.

Watch divers pull 1973 Ford Mustang Mach 1, Mazda RX-7 from a river

It’s like the ultimate barn find, only swap out the relatively ideal dry confines of a barn for a watery grave. Adventures with Purpose, a YouTube channel devoted to the exploits of a group of divers in Oregon that specializes in pulling submerged cars from the water, recently found six vehicles in the Tualatin River, near Portland. The most notable finds? A 1973 Ford Mustang Mach 1 fastback and a Mazda RX-7 sports car, plus a Chevrolet LUV pickup, which is not shown being pulled from the water. As you might expect, neither are exactly in top condition, with the badly rusted Mustang basically disintegrating into scrap pieces as itÂ’s pulled onto a flatbed truck parked on a boat ramp. The RX-7, meanwhile, is caked with mud, its windshield and roof crumpled, but itÂ’s basically intact. A hat tip goes to CarBuzz for spotting the videos. The divers use inflatable salvage bags to help raise the vehicles. They removed the MustangÂ’s rusted and encrusted V8 first — the '73 model came with either 302 or 351 engines — and had to pause to remove some of the thick mud that had built up inside the car. Other things they found from both pulls include an old sledgehammer, a stop sign and a rusted Washington state license plate. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. The crew say they received a call from someone who told them theyÂ’d find plenty of vehicles in the river. The whole Mach 1 salvage operation took two days. “A lot of you are going to be a bit upset at how destroyed the Mustang Mach 1 became after we tried removing it from the river,” the team wrote in its description. “In our defense, there was an extra 8,000 pounds of mud inside the car, along with the Mustang being underwater in the river for over 40 years.” The Adventures with Purpose team says it has recovered 326 cars, six guns, two bodies and a tractor, among things. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.     Ford Mazda Coupe Performance Classics