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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.

Oliver Jarvis in a Mazda takes pole in star-studded Rolex 24 at Daytona

DAYTONA BEACH, Fla. — Oliver Jarvis broke a 26-year-old record at Daytona International Speedway in putting the Mazda DPi from Team Joest on the pole for the Rolex 24 at Daytona. Jarvis went to the top of the scoring chart early in Thursday's qualifying session with a lap at 1 minute, 33.685 seconds. It broke the mark by two-tenths of a second set by P.J. Jones in 1993 in a GTP-class Toyota. The Englishman spoiled a strong run by Team Penske, which qualified second and third for the twice-round-the-clock endurance race that begins Saturday. Ricky Taylor earned the second spot in Penske's Acura ARX-05, while teammate Juan Pablo Montoya was third in his first time qualifying the sports car for the organization. Team Joest wound up first and fourth on the starting grid with Jonathan Bomarito putting its second car on the second row. Felipe Nasr had the fastest Cadillac DPi-V.R in fifth for Action Express Racing. Nasr is the reigning IMSA champion and led the way for four more Cadillacs in qualifying. Jordan Taylor was sixth for Wayne Taylor Racing, ahead of Juncos Racing's Agustin Canapino, then Tristan Vautier and Stephen Simpson for JDC-Miller Motorsports. James Allen in an Oreca 07 Gibson for DragonSpeed won the LMP2 pole. In the GT Le Mans class, Nick Tandy put a Porsche on the pole as four different manufacturers qualified in the first two rows. IMSA GTLM champion Jan Magnussen of Corvette Racing was second, Ryan Briscoe in a Ford GT for Chip Ganassi Racing was third and followed by Davide Rigon in Risi Competizione's Ferrari 488. Marcos Gomes gave Via Italia's Ferrari 488 the pole in the GT Daytona class. Related Video:

10 automakers shack up in Detroit hotel to talk Takata airbags

Since Takata has decided not to take the lead concerning potential issues with its airbag inflators, the automakers have. Perhaps that's unsurprising, since it's the automakers, not Takata, that will take a beating on the dealership floor if consumers decide its models are a health hazards. The Detroit News reports that Toyota, Honda, General Motors, Ford, Chrysler, Mazda, BMW, Nissan, Mitsubishi and Subaru met in a hotel conference room near the Detroit Metropolitan Airport last week to sort out a way to understand the technical issues involved. So far, faulty airbag inflators have been ruled the cause of five deaths and 50 injuries around the world, but neither Takata nor investigators understands exactly why the inflators are malfunctioning. The National Highway Traffic Safety Administration recently asked Takata to issue a national recall, Takata declined, citing a minuscule failure rate and the fact that it's still investigating the issue. Toyota and Honda then made an industry-wide appeal for "a coordinated, comprehensive testing program" that would pinpoint the problem inflators and get them replaced, and that's what the Detroit meeting was about. Numerous issues, however, will make this a long row to hoe: simply getting the parts to replace the nearly 20 million inflators in cars recalled around the world so far - even working with other suppliers - will take a years, but more importantly, no one knows if the replacement inflators currently being installed will suffer the same issue. Answers will hopefully come quickly with Takata, the ten automakers and NHTSA all independently investigating the problem.