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4 automakers agree to $553M settlement of Takata airbag claims

WASHINGTON (Reuters) - Four automakers agreed to a $553 million settlement to address class-action economic loss claims covering owners of nearly 16 million vehicles with potentially defective Takata airbag inflators, according to court documents filed on Thursday. Toyota's share of the settlement costs is $278.5 million, followed by BMW at $131 million, Mazda at $76 million and Subaru at $68 million. According to a press release from Plaintiffs' Committee for Takata Airbag Product Liability Litigation, the funds for the settlement are aimed at getting more cars with faulty airbags fixed. At the time of writing, Toyota had the greatest recall completion percentage of 31.89 percent followed by Subaru with 31.37 percent. Mazda has completed repairs on 18.16 percent of affected cars, and BMW brings up the rear with 16.48 percent completion. Some settlement funds will go to an outreach campaign to increase awareness, while other funds will be used to reimburse people for any costs accrued to get their cars fixed. These costs can include rental cars, child care, lost wages, or any other reasonable costs associated with bringing in a vehicle for repairs. Furthermore, a customer support program will be funded with settlement money to handle any additional repairs or adjustments that could become necessary in the 75,000 miles following the airbag replacement. Lawsuits against Honda, Ford and Nissan have not been settled, lawyers said. Takata inflators, which can explode with excessive force and unleash metal shrapnel inside cars and trucks, are blamed for at least 16 deaths and more than 180 injuries worldwide. The safety defect has prompted recalls worldwide of about 100 million inflators by more than a dozen major automakers. Reporting by David Shepardson, additional details by Autoblog's Joel StocksdaleRelated Video: Government/Legal BMW Mazda Subaru Toyota

2018 Mazda6 refresh takes the car further upmarket

The 2018 Mazda6 is, on the surface, a very mild refresh. The front grille has been given more depth, and the fascia is generally cleaned up a bit, putting the design inline with the new CX-5 and future Mazda products. The interior has been given the same treatment: cleaned up and modernized. But throughout the car, some important updates under the skin make the 6 a more compelling product, and one that continues the company's push upmarket. The biggest change has already been partly revealed, and that's the addition of Mazda's turbocharged 2.5-liter four-cylinder. It's the same engine found in the CX-9, and Mazda has now revealed it will make the same 250 horsepower and 310 pound-feet of torque with premium fuel. The engine will also happily accept 87-octane, in which case the engine will make 227 horsepower. Though the addition of this engine is welcome, we're a bit disappointed to learn that it will only be available with a six-speed automatic transmission. If we're lucky, we might see Mazda add a manual option, since when Mazda launched the current Mazda3, the larger 2.5-liter engine was initially only available with an automatic. But try not to get your hopes up too high, either. The good news is that Mazda will continue to offer a manual transmission as well as an automatic with the base, naturally aspirated 2.5-liter four-cylinder. This engine will now feature cylinder deactivation, as will the 2018 Mazda CX-5. This system will shut off the cylinders on each end at cruising speed to improve fuel economy. Official fuel economy ratings for both engines have yet to be released. Aside from the powertrain, Mazda says it has made a few other mechanical improvements. The suspension has been retuned, and the steering rack rigidly mounted to the chassis to improve handling. Thicker sheet metal for the rear wheel wells, thicker trailing arms, and a bevy of braces have also been added in order to reduce noise for a more refined driving experience. The interior has also been updated for more refinement, particularly on the new Signature trim model. The sleeker interior design on all Mazda6s is joined by redesigned seats Mazda says are more comfortable. Those seats are now available with optional ventilation. A windshield-projected heads-up display, adaptive cruise control that can bring the car to a stop and resume accelerating, as well as an instrument panel with a configurable 7-inch screen are other options.

Mazda's first-quarter profit slumps on weak sales in U.S. and China

TOKYO — Mazda reported a 79% drop in quarterly operating profit, falling significantly short of estimates, as it continues to struggle with declining U.S. and Chinese sales, while a strengthening yen also cut into its bottom line. Operating profit at JapanÂ’s No.5 automaker was 7.0 billion yen ($64 million) in the first quarter ended June, versus around 33 billion yen a year ago and less than half of an average forecast for 18.5 billion yen from analysts polled by Refinitiv. Mazda, however, reiterated its forecast for a 33% rise in operating profit to 110 billion yen in the year ending March. ThursdayÂ’s profit announcement marks MazdaÂ’s poorest first-quarter operating performance since the June 2012 quarter. The automaker has been struggling with falling demand for its cars over the past year or so, while it is also recovering from flood-related damage to its factories in Japan that led to a quarterly loss in the July quarter of 2018. The Nikkei business daily on Wednesday had reported that operating profit at the company would fall around 70% for the quarter due to lower sales in the United States. Mazda posted global sales of 353,000 units for the quarter, down 12% from a year ago. Its sales in the United States, its biggest market, fell 15% to 68,000 units, while in China, Mazda sold 54,000 vehicles, down 21% on the year. A trade war between the top two economies and slowing growth in China, the worldÂ’s biggest auto market, have prompted a broad-based sales downturn in the global auto sector. Automakers are grappling with easing demand for cars just as they must invest heavily in new technologies including electric cars, autonomous driving technologies and ride-sharing services to survive a major industry shift away from car ownership. Many of MazdaÂ’s rivals at home and abroad have been reporting disappointing quarterly results, with Nissan and Ford also announcing job cuts and possible plant closures earlier this month. The United States is a key source of revenue for Mazda, but it imports all its vehicles sold there, exposing it to a threatened hike in U.S. tariffs on imported cars from Japan. To limit its vulnerability to possible tariffs and currency fluctuations, Mazda is investing in a new plant in the U.S. state of Alabama, a joint project with Toyota.