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2013 Mazda CX-5 front end closeup

Mazda is taking the steps necessary to right its financial ship, but when a patient has this kind of issue, the cure can hurt just as much. The small, independent carmaker has been hurt by its relatively Japan-centric manufacturing base and the strength of the yen, the loss of Ford as a noteworthy stakeholder and the resulting loss of financial cushion. Mazda is expected to post a $1.2 billion loss for its 2011 financial year, which is smaller than earlier estimates but it's still the fourth losing year in a row and the largest in a decade.

The need to act has forced Mazda North America into a five-month plan to shed a number of its 701 employees for leaner running. Select employees will be offered a buyout package, and if voluntary uptake isn't sufficient then involuntary dismissals will occur. The timeline begins this month with lump-sum offers, followed by layoffs at the end of May if necessary, and the stretch to August will see the transition of personnel into the restructured organization.

Mazda is also issuing shares to raise $1.9 billion in order to aid its position and get production started in Mexico and Thailand. It is also aggressively seeking a partner and considering licensing its SkyActiv technology.

Mazda looking to shrink U.S. workforce by offering buyouts, layoffs possible originally appeared on Autoblog on Mon, 12 Mar 2012 11:31:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>mazdamazda earningsmazda financialsmazda lossmazda sharesskyactivMon, 12 Mar 2012 11:31:00 EST http://www.autoblog.com/feed/20190511/article-comments.xml http://www.autoblog.com/feed/2012/03/12/mazda-looking-to-shrink-u-s-workforce-by-offering-buyouts-layo/20190511/article-detail.xml 20190511 http://www.blogcdn.com/www.autoblog.com/media/2012/03/2013-mazda-cx-5-front-end-close_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/03/2013-mazda-cx-5-front-end-close.jpg <![CDATA[Troubled Mazda looking to raise $2B in shares, fund Mexico plant]]>http://www.autoblog.com/2012/02/21/troubled-mazda-looking-to-raise-2b-in-shares-fund-mexico-plant/http://www.autoblog.com/2012/02/21/troubled-mazda-looking-to-raise-2b-in-shares-fund-mexico-plant/http://www.autoblog.com/2012/02/21/troubled-mazda-looking-to-raise-2b-in-shares-fund-mexico-plant/#commentsFiled under: , ,

Mazda emblem

Mazda once again finds itself in dire financial straits after warning its investors to expect a loss in 2011 of 100 billion yen ($1.3 billion). In an effort to keep itself afloat, the Japanese automaker is rumored to be considering a new issue of as many as 690 million shares, which would raise about 100 billion yen while diluting current share value by a massive 38.7 percent.

In addition, Mazda is thought to be seeking loans of 70 billion yen from a number of Japanese banks. A good portion of these funds are necessary to bolster Mazda's overseas production facilities. At present, 70 percent of all its vehicles are produced in Japan and 90 percent of those are exported. In order to combat the high value of the yen, Mazda is seeking to renovate a production site in Thailand and build a new one on Mexico.

Only time will tell if Mazda, Japan's fifth-largest automaker, is able to remain an independent company or if it will be forced to partner up with a larger partner, as it once had with Ford.

Troubled Mazda looking to raise $2B in shares, fund Mexico plant originally appeared on Autoblog on Tue, 21 Feb 2012 17:28:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>mazdamazda earningsmazda financialsmazda loanmazda lossmazda sharesTue, 21 Feb 2012 17:28:00 EST http://www.autoblog.com/feed/20176221/article-comments.xml http://www.autoblog.com/feed/2012/02/21/troubled-mazda-looking-to-raise-2b-in-shares-fund-mexico-plant/20176221/article-detail.xml 20176221 http://www.blogcdn.com/www.autoblog.com/media/2012/02/mazda-emblem-1329847569_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/02/mazda-emblem-1329847569.jpg <![CDATA[REPORT: Mazda looking to raise $1.1B to catch up in hybrid race]]>http://www.autoblog.com/2009/10/05/report-mazda-looking-to-raise-1-1b-to-catch-up-in-hybrid-race/http://www.autoblog.com/2009/10/05/report-mazda-looking-to-raise-1-1b-to-catch-up-in-hybrid-race/http://www.autoblog.com/2009/10/05/report-mazda-looking-to-raise-1-1b-to-catch-up-in-hybrid-race/#commentsFiled under: , , , , ,


2009 Mazda Tribute - Click above for high-res image gallery

According to a report from Reuters, Mazda plans to raise up to $1.1 billion (95.9 billion yen) by issuing 315.2 million new shares and selling 96.8 million treasury shares. The resulting funds are to be reinvested in the company, mainly for research and development into hybrids and other eco-friendly technologies.

So far, Mazda's only hybrid has been a version of its Tribute crossover utility vehicle, which was in reality little more than a badge-engineered version of the Ford Escape Hybrid. Last year, Ford reduced its stake in Mazda to 13.8 percent, meaning that the Japanese automaker will longer be able to rely on the Blue Oval for gas-electric expertise, so it needed to make its own independent investment into new technologies.

Back in April, Mazda announced plans to boost the fuel efficiency of its fleet of cars and trucks by 30%, and that laudable effort will begin in 2011 with a new fuel efficient version of its bread-and-butter 2.0-liter four-cylinder engine and six-speed automatic transmission. Well, now we know how all this newfangled Sustainable Zoom Zoom stuff will be paid for.


Gallery: Mazda Tribute Hybrid SUV


[Source: Reuters]

REPORT: Mazda looking to raise $1.1B to catch up in hybrid race originally appeared on Autoblog on Mon, 05 Oct 2009 16:29:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>greenhybridmazdamazda hybridmazda hybridsmazda sharesmazda stockMazdaHybridMazdaHybridsMazdaSharesMazdaStockMon, 05 Oct 2009 16:29:00 EST http://www.autoblog.com/feed/19184548/article-comments.xml http://www.autoblog.com/feed/2009/10/05/report-mazda-looking-to-raise-1-1b-to-catch-up-in-hybrid-race/19184548/article-detail.xml 19184548 http://www.blogcdn.com/www.autoblog.com/media/2009/10/mazda-tribute-hybrid_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2009/10/mazda-tribute-hybrid.jpg <![CDATA[Ford sells 20% of its stake in Mazda]]>http://www.autoblog.com/2008/11/18/ford-sells-20-of-its-stake-in-mazda/http://www.autoblog.com/2008/11/18/ford-sells-20-of-its-stake-in-mazda/http://www.autoblog.com/2008/11/18/ford-sells-20-of-its-stake-in-mazda/#commentsFiled under: ,

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.

[Source: Ford]

Continue reading Ford sells 20% of its stake in Mazda

Ford sells 20% of its stake in Mazda originally appeared on Autoblog on Tue, 18 Nov 2008 10:28:00 EST. Please see our terms for use of feeds.

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