Auto News

AutoGuide News Blog

The AutoGuide News Blog is your source for breaking stories from the auto industry. Delivering news immediately, the AutoGuide Blog is constantly updated with the latest information, photos and video from manufacturers, auto shows, the aftermarket and professional racing.
 |  Feb 10 2012, 1:32 PM

After its fourth straight year resulting in a net loss, Mazda is now looking for partners to help bolster their capital.

Mazda has had a net loss $1.29 billion this fiscal year, and is now actively seeking any way possible to help out with its uncertain financial future. This is the worst slide Mazda has been in since 2001, when it showed a $2.0 billion net loss.

Mazda’s struggles come thanks to the strength of the Yen. Since Mazda exports such a large percentage of its cars from Japan, it’s becoming more and more difficult for the automaker to reap the benefits from the sale of those vehicles.

In response, Mazda is setting up a factory in Mexico to build the new Mazda2 and Mazda3 for the U.S and Latin American markets.

Mazda CEO Takashi Yamanouchi has stated that he must raise capital and is “considering every option” when it comes to getting money for Mazda.

Yamanouchi is looking to gain the interest of other car makers with their environmentally friendly technology such as Skyactiv engine’s.

[Source: AutoNews]