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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

Lucid Air and Maserati MC20 unveiled | Autoblog Podcast #644

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Associate Editor Byron Hurd. Before they get to the juicy news of the week, they chat about the cars they've been driving, including a Ford Mustang Shelby GT350R, Audi A6 Allroad, Mazda CX-9 and Kia Niro. It's been a busy week in the news department, with GM investing in Nikola, Lucid Motors launching the Air electric sedan, Maserati unveiling the MC20 mid-engined supercar and a farewell to the Lexus GS. Then they talk about having a newfound respect for the Fox Body Mustang and the Mazda CX-9. Autoblog Podcast #644 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we're driving 2020 Ford Mustang Shelby GT350R 2020 Audi A6 Allroad 2020 Mazda CX-9 2020 Kia Niro GM buys $2 billion stake in Nikola, will build Badger hydrogen-electric pickup Update: Short-seller accuses Nikola of fraud and Nikola threatens to sue Lucid Air production electric luxury sedan is a dream revealed Lucid Air's modular powertrain opens up serious performance possibilities Lucid Motors teases electric SUV at Air debut Mid-engined, 621-horsepower MC20 inaugurates a new era for Maserati All future Maseratis will borrow styling cues from the MC20  2023 Maserati MC20 Folgore planned with three-motor electric powertrain Lexus GS dead for 2021 Respect to: Fox Body Mustang Mazda CX-9 Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video:

2018 Mazda MX-5 Miata and MX-5 Miata RF pricing announced

At Chicago, Mazda has announced official 2018 pricing for the MX-5 Miata, both soft-top and RF. The trick-roofed RF version, or Retractable Fastback, has a coupe-like power hardtop that opens up into a targa. It's only natural that there are MX-5 models on display at the Chicago Auto Show, as 29 years earlier the original Miata was unveiled there. All ND generation cars sold in the U.S. have the 155-horsepower Skyactiv-G engine with a choice of six-speed manual or six-speed automatic. While the canvas-topped 2018 MX-5 starts from $25,295 as a manual Sport, the RF bypasses the Sport spec and starts directly from the Club, which for the RF means a $31,910 starting price, or $355 more than for 2017; the soft-top 2018 Club costs $29,555 in comparison, or a measly $120 hike. The manual Club has a limited slip differential, a front strut brace and Bilstein suspension. Similarly to the soft-top car, the RF also gets a Brembo/BBS brake/wheel/appearance package that hikes the price to $35,680 — and that is only available with manual transmission. That package costs $32,925 for the soft-top, which has also a $700 Recaro sport seating option for the aforementioned Brembo/BBS package, but that is unavailable for the RF. Grand Touring comes with automatic climate control, heated leather seats and adaptive lighting, at a price of $30,195 for the soft top and $32,750 for the RF. Add new-for-2018 Nappa leather for the Grand Touring for $300. At launch in the 2017 model year, the RF Grand Touring was priced $3,000 dearer than a comparable soft-top version, but that difference has now shrunk by $500. Related Video: Featured Gallery 2018 Mazda MX-5 RF: Chicago 2018 View 11 Photos Image Credit: Copyright 2018 Drew Phillips / Autoblog.com Auto News Chicago Auto Show Mazda Convertible Coupe Performance 2018 Chicago Auto Show