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Mazda and Toyota formally announce plans to 'make cars better'

Following Monday's report that Toyota and Mazda could be expanding their cooperation, the two Japanese automakers have made it official, issuing a joint press release announcing a "mutually beneficial long-term partnership" that will "make cars better." The two companies will set up a joint committee to figure out the strengths and weaknesses of each party. As we explained yesterday, that likely means Mazda will benefit from Toyota's plug-in-hybrid and fuel-cell tech, while the world's largest automaker can take advantage of the Zoom-Zoom automaker's line of efficient Skyactiv engines. "I am delighted that our two companies can share the same vision and work together to make cars better. I can think of nothing more wonderful than showing the world – together – that the next 100 years of cars will be just as fun as the first," Toyota President Akio Toyoda said in the attached joint statement. Mazda President and CEO Masamichi Kogai echoed that sentiment, saying: "I hope that by working together to make cars better, we can raise the value of cars in the eyes of consumers while also enhancing the manufacturing capabilities of our home, Hiroshima, and all the communities we are involved in as well." Scroll down for the official joint press release. Toyota and Mazda Team Up to Make Cars Better Tokyo, Japan, May 13, 2015-Toyota Motor Corporation and Mazda Motor Corporation today entered an agreement to build a mutually beneficial long term partnership. By leveraging the resources of both companies to complement and enhance each other's products and technologies, the partnership will result in more appealing cars that meet the diverse needs and tastes of customers all over the world. A joint committee will now be set up to evaluate how best to utilize each company's respective strengths. The committee will encourage broad and meaningful collaboration across a range of fields, including environmental and advanced safety technologies. Marking the agreement, Toyota President Akio Toyoda said: "As evidenced by their SKYACTIV Technologies and KODO-Soul of Motion design, Mazda has proven that it always thinks of what is coming next for vehicles and technology, while still managing to stay true to its basic carmaking roots. In this way, Mazda very much practices what Toyota holds dear: making ever-better cars. I am delighted that our two companies can share the same vision and work together to make cars better.

Toyota nears $40B cash reserve as calls grow for new investment, payouts

With the April 15 tax deadline just a few months away, our US readers will be faced with a decision should they get a refund: save or spend? It seems this issue is one many of us face whenever there's a windfall, trying to decide whether we should set the money aside in an account of some sort or use it as a down payment on a new car or a trip to the Apple store. Unsurprisingly, major corporations face a similar, albeit more complex, issue.
Take Toyota, for example. With President Akio Toyoda at the helm, the Japanese manufacturer has gracefully weathered recalls and natural disasters, all while turning beaucoup profits. Last quarter, profits quintupled to 434.4-billion yen ($4.3-billion USD), according to Bloomberg. Toyota also upped its forecast for the end of fiscal year 2013 (which ends on March 31 for Japan), to a record 1.9-trillion yen (about $18.8 billion). Now, the Japanese brand is reportedly sitting on a cash pile of nearly $40 billion, leaving Toyoda-san in an envious predicament - what should the company do with all that money?
Some think Toyota should be doing something, anything with that big stack of cash.

Evo pits Toyota GT86 vs. Mazda MX-5 Miata

The latest Deadly Rivals episode from Evo gets the Mazda MX-5 Miata and Toyota GT86 (our Scion FR-S) on track for a shakedown and a whole lot of drifting with Dan Prosser behind the wheel. The UK-spec coupes have slightly different power ratings than ours, but it's all close enough to be comparable. Their Miata has 158 horsepower (ours has 155), 148 pound-feet of torque, takes 7.3 seconds to run from naught to 60 62, and costs 22,695 pounds. The GT86, on the other hand, lists a 7.6-second dash to 60 62, and a base price of 25,000 pounds. The GT86 also weighs 400 pounds more than the Mazda. That's true in the States, too – curb weight for our MX-5 is 2,332 pounds, whereas the Scion FR-S comes in at 2,758 pounds. Both cars lauded for excellent shifting, but one of them has a better front end, a sweeter engine note, more controllable cornering behavior, and is faster by a tenth of a second around the test track. And Prosser doesn't mention it, but one has a lot more body roll. But it takes more than all that to make a winner, so check out the video above to see which is which. News Source: Evo via YouTube Mazda Scion Toyota Convertible Coupe Performance Videos toyota gt86 evo