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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

2002 Mazda MX-5 Miata powered by a Jaguar-sourced V6 for sale

Cars & Bids, a relatively new site that specializes in auctioning modern enthusiast cars, is selling a 2002 Mazda MX-5 Miata. While that's hardly unusual, this example lost its four-cylinder engine and gained a Jaguar-sourced V6. Pulling a 3.0-liter six out of a 2000 S-Type and dropping it into an unsuspecting Miata is apparently easier than it sounds. England-based Rocketeer offers a kit that makes the swap reasonably straightforward, though the listing notes the factory air conditioning system is not compatible with the new engine. Cold air aside, the installation is done so neatly that it looks like Mazda envisioned the Miata with a bigger engine. Jag's V6 inevitably adds weight to a roadster praised globally for its nimble handling, but it also brings a whole lot of horsepower to the table. Left stock, a 2002 Miata is powered by a 1.8-liter four-cylinder that makes 142 horsepower and 125 pound-feet of torque. The example listed on Cars & Bids puts 220 horsepower and 221 pound-feet of torque under the driver's right foot, figures that easily offset the weight gain. And, somewhat surprisingly, the six spins the rear wheels through a stock five-speed manual transmission. Flyin' Miata sway bars and Koni shocks improve handling. Close the hood, and this Jagazda looks like a run-of-the-mill 18-year-old Miata. The seller made no modifications to the body, it's still painted in its original shade of silver, and he kept the stock 15-inch wheels. The dual exhaust tips hint at the V6, but they're subtle enough to surprise more than a few racers at the next autocross event. The auction is live now, and bidding stands at $4,250 as of writing with about three days left before the hammer drops. If you miss your chance to bag it, several shops sell kits that let skilled shade-tree mechanics shoehorn Mazda's K-Series V6 (which powered the MX-6 and the Ford Probe, among other cars) into an older Miata. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.     Featured Gallery 2002 Mazda MX-5 Miata with Jaguar V6 View 14 Photos Aftermarket Jaguar Mazda Convertible

Miata buyers prefer a manual gearbox, says Mazda

Earlier, we wrote about Toyota's underwhelming 2018 manual transmission sales figures. To recap – as Toyota's representatives told CarBuzz – the automatic Corolla outsold its manual equivalent to a ratio of 100 to 1, and just one in three Toyota 86 buyers picked a manual version of the rear-drive coupe. What about the other famous rear-wheel-drive offering from Japan, Mazda's MX-5 Miata? A case can be made that an 86 buyer cross-shops the Miata, and vice-versa, but what kind of split do Mazda's sales figures reflect in comparison? We reached out to Mazda for some sales data, and PR program manager Tim Olson told us 76 percent of Miata soft-top buyers go for the classic stick-shift option, leaving just 24 percent of buyers preferring the automatic. Both transmission options for the Miata are six-speed. The figures are based on year-to-date sales data for the 181-hp 2019 Miata, from July 2018 through April 2019. Interestingly, the more coupe or targa-like, retractable hardtop RF variant takes a step towards the 86 when it comes to transmission choices. While RF buyers still preferred the manual, the split was far closer to half and half: 52% went for the manual, and 48% chose the automatic. Perhaps this reflects the RF's more grand tourer-like image, and it might also be indicative of the RF's higher pricing. If you're going to spend nearly $34,000 for a Miata, another $600 for an autobox doesn't necessarily mean that much – choosing the auto on the base, Sport trim level soft top roadster is a $1,350 bump instead. While the $26,650 base Sport isn't exactly spartan, on a roadster it's fine to have less cushiness. With the higher-specced Club trim level, the auto's price tag shrinks to the aforementioned $600, as it is on the RF Club. There's no base Sport for the RF, as the cheapest RF is the $33,865 Club. But still, the manual shifter's snick-snack feel is one of the Miata's classic traits that has been with it since its inception 30 years ago. Sources say fewer than 5% of the original first generation Miatas were made with an automatic gearbox, but it's obvious trends and tastes are changing – although to be fair, automatics are getting much better as well.