Well, we have to say we saw this coming. Ford has officially sold off approximately 20% of its stake in Mazda. The sale reduces Ford's share from a controlling 33.4% interest to just over 13% and puts about $540 million into the Dearborn coffers, based on a sale price figured at Mazda's closing value Tuesday. The cash infusion will certainly help Ford's bottom line in these rough economic times, and the fact that the shares are being sold back to Mazda (7 percent) and to about 20 of its strategic partners means that Ford's remaining stake will still give it significant leverage in their partnership. Even with just 13%, Ford will remain Mazda's largest shareholder and will keep its seat on the Mazda Board of Directors. The two companies say that this will not effect Mazda's operations and that Ford and Mazda will continue their nearly 30-year history of cooperation. According to the official statement, which can be found in its entirety after the jump, Ford and Mazda will continue their ongoing joint ventures and will continue to share platforms and powertrains.
Click above for high-res gallery of the Troy Lee Designs Mazda6
The redesigned Mazda6 is hitting dealers as we speak, and the Japanese automaker turned to the famous vanguards of style at Troy Lee Designs to tweak one for the SEMA Show in Las Vegas this year. TLD laid down the custom green paint job with help from L&G Enterprises and PPG for the paint itself, while Funktion USA added body mods like the carbon fiber splitter up front and rear wing. Lest you think this tuned Mazda6 is just a show stand prop, it's also been fitted with 18-inch black Momo Strike wheels, Hoosier tires (nice touch), a custom suspension by Eibach Springs and big brake kit by Wilwood with 6-piston clampers and cross-drilled rotors. There's no word on whether or not the TLD Mazda6 has any engine upgrades, but it's not like the stock 3.7L V6 is lacking Zoom-Zoom with its best-in-class 272 horsepower. Check out the official word from Mazda after the jump and our gallery of live, high-res shots from the show floor below.
Click above for high-res gallery of 2010 Mazdaspeed3 spy shots
With the new 2010 Mazda3 on its way, the next logical question for any gearhead worth his driving shoes is when we'll set our eyes on the next Mazdaspeed version. Well, we have our answer already if the latest batch of spy shots are to be believed.
The current Mazdaspeed3, also known as the Mazda3 MPS in Europe and the Mazdaspeed Axela in the Japanese domestic market, is a veritable barn-stormer and Mazda's performance engineers will be eager to follow up with an even hotter version of the new model. This prototype, bearing all the hallmarks of the new 3 coupled with all manner of performance bolt-ons, was spotted lapping the vaunted Nürburgring Nordschleife wearing a bit of camo and a lot of speed. The shots reveal the presence of a big ol' hood scoop, oversized alloys, a full aero kit and dual exhaust. Of course, the next question is what engine will be crammed under that gaping bonnet vent, with some suggesting a revamped version of the current model's direct-inject 2.3-liter turbo four and others the Volvo-derived 2.5-liter five-cylinder turbo slated to crank out 300 hp in the new Euro-only Ford Focus RS. Tantalizing options, both, but we'll just have to wait and see what the Zoom-Zoom crew have in store for us.
While GM is being swamped with the persistent rumors surrounding the addition/dissolution of Chrysler, Ford's rumor mill has been heading in the complete opposite direction. It appears Volvo is on the way out of Dearborn, but Mazda may be sneaking through the exit first. Recent reports since disputed by Mazda have Ford selling off a portion of its 33.4% stake in the Japanese automaker, which means the Blue Oval would lose majority ownership status. The Nikkei daily in Japan has been all over the Ford/Mazda story, and the latest news involves selling 20% of Mazda to 20 Japanese firms including some insurance companies, leaving Ford with a stake of around 13%.
Ford is allegedly unwilling to sell the shares to its competition, so splitting the Mazda shares in 20 small chunks makes picking up all the shares difficult. Besides five insurance companies, parts maker Denso, steel companies, and trading companies are also rumored to be taking part in the purchase. The price of 1% Mazda ownership is in the neighborhood of $40 million, and the total sale could approach $1 billion. Japanese media is reporting that any deal could be announced next month, and neither Mazda or Ford are saying a word at this point.
Click above for a high-res gallery of the Mazda Kazamai concept
According to president and CEO James Muir, the company would like to go a bit upmarket, attracting buyers looking for an aspirational brand. We're okay with that as long as Mazda's don't lose their sporty edge in the process. To make the transition, the automaker is looking to offer more variations of models already in its line and to add a few new ones. A new entry-level model could show up first, drawing styling cues from the company's radical concept cars such as the Kiyora concept recently shown as the Paris Motor Show. That new city car could be known as the Mazda1. A small crossover is also on the drawing board and was previewed by the awesome Kazamai concept from Moscow.
Also present and accounted for is the rumor that just won't die: a new RX-7, which would undoubtedly be powered by a version of Mazda's unique Renesis rotary engine. We'd expect the new RX to be a bit more than just an RX-8 with its rear doors lopped off, as the 7 has always been Mazda's top performer. That new halo car would complement the more aggressive MX-5 that the automaker is currently working on.
Rumors of Ford selling part or all of its 33.4% share in Mazda have picked up steam this week since we first reported on them over the weekend, and analysts in Tokyo think a deal that "clears a cloud over Mazda" is imminent. Nikkei English News also reported that Ford has asked Japanese supplier Denso to purchase part of its stake in Mazda, but the Japanese news agency didn't claim any sources and Denso has declined comment in the matter. Most are guessing that potential buyers would include Mazda itself, as well as a number of companies over which the risk of investment could be spread, while Ford would likely hold on to at least some of its stake in the brand but lose its controlling share of the company.
Management from Ford and Mazda are largely silent regarding any possible deal, but Mazda spokesman Ken Haruki said that "nothing has been decided," which doesn't sound like much of a denial. There is no question that Ford needs cash to get through these turbulent economic times, and its share of Mazda is currently worth $1.33 billion based on Wednesday's share price, which itself has dropped 56% in the past year. The ownership status of Mazda is likely worth more than $1.33 billion, though, and anyone taking that title from Ford will surely have to pay a premium.
Even if Ford sells some or all of its stake in Mazda, the two companies would continue to share platforms, powertrains and components for a long, long time. That will help Ford continue to enjoy economies of scale while giving Mazda good hardware without the massive development costs.
Judging from exterior shots of the 2010 Mazda3 that were released last week, Mazda is looking to be more than a bit player in the small car market. The styling of the new Mazda3 looks more expensive than the current model, and is perhaps a better example of the brand's new design language than the also recently redesigned Mazda6. We've been looking forward to seeing pics of the Mazda3 on the inside, and judging from this one spy shot we've seen so far, the Zoom Zoom designers didn't go cheap on the interior.
The first thing that draws attention in the Mazda3 cabin is the Civic-esque two-tier dashboard. We're not huge fans of this style, but Mazda designers did a nice job of integrating the top deck with the lower level and center stack. Judging from the sole pic, some buttons on the center stack look to be a bit small, but main knobs for HVAC and volume are nice and big. The interior in this example is two-toned with what looks to be an aluminum-finished applique above the glove box, and more contrasting colors on the seats and doors. One thing that didn't change from the current generation Mazda3 is the red back-lighting on all the gauges, buttons, and knobs that we've come to expect from Mazda.
The financial peril that currently faces the U.S. domestic automakers is no secret, and according to Wall Street Journal report published yesterday, Ford is mulling over the possibility of unloading at least part of its controlling stake in Mazda to raise cash. Japanese media, via the AP, said that Ford would likely keep some interests in the Japanese automaker after such a move -- no surprise when you consider how closely tied Ford and Madza are right now in terms of shared technology. The Oval's third-quarter numbers are expected to be pretty ugly, and the Journal's source said that the potential sale of its Mazda holdings is one of many moves reportedly under consideration as Dearborn looks for ways to add to its cash on hand. For its part, Mazda denies that any decision has been made (a non-denial, really -- no outlets reported that a deal had yet been completed) and Ford weighed in with a to-be-expected "no comment." As they say, to be continued...
Mazda has already given us a sneak-peak at its long-awaited 2010 Mazda3, and while we like what we've seen so far, we want more. We know that team Zoom Zoom is adding a new 2.5L engine to replace the outgoing 2.3L engine, and that the full Monte will be shown at the LA Auto Show next month, but anything more would be great. We came across a short video clip of the Mazda3 in action, but it's 12 seconds long and shows the same three photos we've already seen with moving wheel animations. Needless to say, it's a little disappointing. Now is as good of a time as any to look at the high-resolution pics we do have in the gallery below, and if you need help imagining what Mazda's top-selling sedan looks like in motion, hit the jump.
Click above for high-res gallery of the Mazda MX-5
The Mazda MX-5 is one of the world's best handling cars under $25,000, and as much as we Americans want more power and size to turn the Japanese roadster into a proper pony car, that's probably not going to happen. Increased fuel economy and CO2 reductions will force the MX-5 into the same situation as larger vehicles. It has to get more efficient and lighter to stay competitive. MX-5 program manager Takao Kijima told Drive that Mazda is looking at alternative powertrains for its little roadster, but the Zoom Zoom specialists are also looking to drop 10% of the car's weight.
One way to improve efficiency is with diesel technology. Diesels can be 30% more efficient than petrol powerplants, but beefier diesel parts means that total displacement must be smaller than the current engine's 2.0 liters. Another idea is a hybrid, which, like the diesel, would provide instant torque that would also add weight to a vehicle that's just about to go on a diet. Kijima also stated that any MX-5 would absolutely have to have 50/50 weight distribution, meaning that a hybrid with its heavy batteries would by tricky, but not impossible. For our money, we'll take a 10% lighter Miata with a smaller turbocharged, direct-inject gas engine with ethanol injections.