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Toyota and Mazda in talks to build joint US auto plant

UPDATE: The Toyota-Mazda deal has been announced. A newer version of this story appears here. Toyota Motor Corp and rival Mazda Motor Corp are expected to announce plans on Friday to launch a joint venture and build a new U.S. assembly plant, a person briefed on the matter said. A new auto plant would be a major boost to U.S. President Donald Trump, who campaigned on promises to boost manufacturing and expand employment for American autoworkers. Japan's Nikkei reported on Thursday that Toyota would take a roughly five-percent stake in Mazda Motor Corp to develop key electric vehicle technologies and jointly build a factory in the United States. The deal could be announced as soon as Friday, the newspaper said. The person briefed on the matter, who was not authorized to speak to the media and requested anonymity, confirmed the Japanese carmakers were planning to build a large plant in a yet to be determined U.S. location and planned future joint efforts on electric vehicles. The same source declined to offer further details, however. Toyota, in a statement, said the two companies have been exploring various areas of collaboration under a May 2015 agreement. "We intend to submit a proposal to our board of directors today regarding the partnership with Mazda, however, we would like to refrain from providing further comment at this time," Toyota said in a statement issued by its U.S. operations. Mazda said in statement that "nothing has been decided yet" and added the company "will have a board meeting on this matter today. We cannot comment any further." Toyota, the world's second-largest automaker by vehicle sales in 2016 and Japan's dominant car company, has been forging alliances with smaller Japanese rivals for several years, effectively consolidating the Japanese auto sector. A new U.S. assembly plant would likely become the prize in a fierce competition among Midwestern and Southern states eager to expand manufacturing jobs. Trump in January criticized Toyota for importing cars to the United States from Mexico. The Republican president also threatened to impose a hefty fee on Toyota if it were to build its Corolla cars for the U.S. market at a plant in Mexico. "Toyota Motor said will build a new plant in Baja, Mexico, to build Corolla cars for U.S. NO WAY! Build plant in U.S. or pay big border tax," Trump said in a post on Twitter. But since January, Trump has praised Toyota for its U.S. investments.

Subaru, Mazda profits dip; both blame exchange rates

While some larger automakers took a beating on Q4 earnings, some of Japan's smaller operations managed to keep their heads just above water despite currency issues and slumping sales industry-wide. Subaru, which capped off its 11th consecutive year of U.S. sales increases, reported a 42-percent drop in operating profit in the final quarter of 2019; Mazda, which operates on an even smaller scale, saw a 76-percent drop.  Per Automotive News, both companies faced challenges apart from navigating currency exchanges.  Subaru Subaru's 2019 was marred by warranty costs stemming from repairs on high-volume models, including the Impreza and Crosstrek. Despite the drop in profit, company revenues only slid 2.3 percent. The company also says that it has managed to curtail incentive spending, largely thanks to replacement models that needed less help moving out of showrooms.  America remained a bright spot, with 2019 sales volumes increasing by nearly 3 percent over 2018. Subaru is hoping that figure will increase to 4.0 percent in 2020. Subaru's wholesale deliveries also increased in western Europe, but dropped precipitously (28 percent) in the company's home market.  Mazda The smaller Mazda faced similar challenges, but its 2019 lacked some of Subaru's more dramatic bright spots. Worldwide shipments of new vehicles dropped by 8 percent, aiding a revenue decline of 5 percent. Mazda's vehicles remained profitable on a per-unit basis, but only just.  Mazda has been undergoing aggressive cost-cutting measures, but even those were no match for reduced volumes and unattractive currency exchange rates.  Despite these challenges, both companies are keeping their earnings outlooks unchanged. The fourth quarter of 2019 represented the third quarter in both companies' fiscal years, which will end in March.  Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. 2020 Subaru WRX STI S209 | POV Drive

Meet our new long-term 2016 Mazda MX-5 Miata Club!

We have a new Miata! For a year! And yeah, we're excited about it. This adorable roadster was added to our fleet over a month ago, but we've just now stopped driving it long enough to tell you about it. You can watch our unboxing video for this new long-termer above. (Spoiler alert: The car in the box is a Miata.) Then read a little more about which options and features we chose and why. What we got We chose the mid-line Club model because it's the only way to get the suspension with Bilstein shocks, the limited-slip differential, and a shock-tower brace. Club also includes an appearance package with a front air dam, side sill extensions, a rear bumper skirt, and a ip spoiler for the trunk. We chose Ceramic Metallic paint because it's white and silver and awesome all at once. The only option we chose is the Brembo/BBS Package. In addition to the upgraded brake system and 17-inch wheels alluded to by the title, this package adds Mazda's advanced keyless entry – you can unlock the doors and start the car without taking the key-thing out of your pocket. The MSRP for the car is $32,835. What we skipped The Grand Touring trim (too fancy), the automatic transmission (too few pedals), and extra-cost red paint (not ceramic enough). Grand Touring adds lots of convenience stuff like rain-sensing wipers and auto climate, some active safety systems, and leather. We wanted the upgraded chassis instead, and we' were trying to save some (hypothetical) money. Why we got it Because it's a Miata, and we like fun. The plan is to drive the bleep out of it for a year and report on the experience along the way. We'll take it to a track or two, keep the top down as far into winter as possible, and then slap some snow tires on it to continue . Maybe at a slight angle relative to straight-ahead at times. We'll see. If you have questions about this car, leave them in the comments below and we'll address as many as we can during the coming months. Miata! Related Video: