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Trump declaration they're a security threat stuns Japanese automakers

TOKYO — Japan's automakers' lobby said on Tuesday it was dismayed by President Donald Trump's declaration that some imported vehicles and parts posed a threat to U.S. national security, as the industry braces for a possible rise in U.S. tariffs. Trump made the unprecedented designation of foreign vehicles on Friday but delayed for up to six months a decision on whether to impose tariffs to allow for more time for trade talks with Japan and the European Union. "We are dismayed to hear a message suggesting that our long-time contributions of investment and employment in the United States are not welcomed," said Akio Toyoda, chairman of the Japan Automobile Manufacturers Association. "As chairman, I am deeply saddened by this decision," Toyoda, president of Toyota, said in a statement. Trump has threatened to impose tariffs of up to 25% on imported cars made by foreign automakers, a move which automakers have argued would ramp up car prices, curb the global competitiveness of U.S.-made vehicles and limit investment in the country, the world's No. 2 auto market. The United States is a vital market for Toyota, Nissan, Honda and other Japanese car makers. Autos and components are among the Asian country's biggest export products. Most of Japan's major automakers operate plants in the United States. The Japan Automobile Manufacturers Association notes that its automakers build about 4 million vehicles a year in North America, or 75 percent of what it sells here. Many are built for export, helping lessen the U.S. trade deficit Trump is concerned about. Major automakers have announced a slew of investments in the United States since Trump took office in January 2017 and put pressure on the industry to create more U.S. jobs. For its part, Toyota has pledged to invest almost $13 billion in the United States between 2017 and 2021 to boost manufacturing capacity and jobs. This includes $1.6 billion for a vehicle assembly plant in Alabama jointly run with Mazda. Government/Legal Honda Mazda Mitsubishi Nissan Toyota Trump

2017 Mazda MX-5 Miata RF Quick Spin | Elevate yourself

It's unusually hot in Western Washington; the early August sun beams through skies rendered hazy by fires a few hundred miles to the north. If you're not moving, it gets a bit oppressive, since there's just enough humidity to feel it and not enough wind to relieve it. Instead of huddling inside, window shades drawn, fan blowing hot air around impotently – this is how most Washingtonians, 75 percent of whom don't have A/C, handle the heat – we're taking our fan on the road. The best way to beat the heat, it turns out, is to climb into the forests. For this adventure in body temperature regulation, we've got a Mazda MX-5 RF, the Miata's semi-targa-topped variant, and a few hours of time. And the Cascade Mountain's foothills, thickly coated with Douglas firs and, higher up, subalpine firs soaking up as much sun as they can in the short growing season. I've lived near the foothills nearly all my life, but there's a lot of the Cascades I haven't explored. One area is Chinook Pass, a mountain road that crests at 5,430 feet. Looming almost 9,000 feet above it is Mount Rainier, so close you can almost touch it. Just about 100 feet below the summit is Tipsoo Lake, startlingly clear and sporting enough wildflowers to make The Sound of Music look like a movie about Rommel's North Africa campaign. But that's jumping ahead a bit. Between me and the summit is about 90 minutes of driving, through the suburbs and into the Enumclaw Plateau, and then along the chalky White River and up into the mountains. Plenty of time to focus on nothing but the surroundings, and the quality of the cooling action provided by the little Mazda. A quick word about the car, and my own biases – I love Miatas, but I have a complicated relationship with the latest MX-5, having owned a much more visceral (and much slower) first-gen car for about six years. On paper, it's this perfect modern interpretation of the original. It's light, it's a momentum machine, the steering's just a tad overboosted, and it has a playful amount of body roll while maintaining a healthy amount of mechanical grip. It looks aggressive enough, too, a major complaint of many folks about the last-gen car's Joker smile. The interior is largely brilliant, amazingly simple and interesting for such a lithe car. And yet, I have never found the new car to be as charismatic as my old Miata, with all its flaws. This puts me in the minority; most MX-5 fanatics find the ND to be a great compromise.

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.