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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

2020 Mazda6 starts at $24,920, $200 more than 2019 model year

Mazda increased the price of all five trims of the 2020 Mazda6 by $200. The entry-level Mazda6 Sport starts at $24,000 before $920 destination charge ($965 in Alaska), for a total of $24,920. The only changes for next year are a new key fob likely copying the black and shiny metal unit from the Mazda3, and a new Signature badge likely in the form of the elemental "Sg" pulled from the CX-5 Signature model. The three Premium Paint choices carry over, with the same prices: Snowflake White Pearl Mica for $200, Machine Gray Metallic for $300, and Soul Red Crystal Metallic for $595. Prices of the other four trims run:  Mazda6 Touring $27,580 Mazda6 Grand Touring $30,620 Mazda6 Grand Touring Reserve $33,120 Mazda6 Signature $36,220 We're awaiting word on the arrival of all-wheel drive and the 2.2.-liter turbodiesel fitted to the CX-5. In the CX-5, that engine makes 168 horsepower and 290 pound-feet of torque. An AWD Mazda6 showed up in paperwork filed with the National Highway Traffic Safety Administration in January 2018, spy shots of a diesel-powered sedan followed in May that year, and Mazda mentioned the oil-burner again in April this year. For the time being, power for the 2020 Mazda6 will continue to be sent to the front axle through a six-speed automatic — Mazda eliminated the six-speed manual for the 2019 model year. The Sport and Touring trims come with a 2.5-liter four-cylinder that makes 187 hp and 186 lb-ft. The Grand Touring, Grand Touring Reserve and Signature raise that to a turbocharged 2.5-liter four-cylinder with 227 hp on 87 octane gas, or 250 hp on 93 octane, and 310 lb-ft.

Question of the Day: What's the most irritating car name?

You hear a lot about how the Chevrolet Nova was a sales flop in Mexico because "No va" means "it doesn't go" in Spanish; in fact, the Nova sold pretty well south of the border, and in any case most Spanish-speakers know that "Nova" means "new" in Latin and Portuguese. However, General Motors doesn't deserve to be let off the hook for bad car names, because the Oldsmobile Achieva— no doubt inspired by the excruciating "coffee achievers" ads of the 1980s— scrapes the biggest fingernails down the screechiest chalkboard in the US-market car-name world. That is, unless you think Daihatsu's incomprehensible choice of Charade was worse. Meanwhile, Japanese car buyers could get machines with cool names like Mazda Bongo Friendee or Honda Life Dunk. It's just not fair! So, what car name drives you the craziest? Related Video: Auto News Design/Style Chevrolet Honda Mazda Daihatsu Automotive History questions car names