Dec. 18, 2014, 2:45 AM
- Takata (OTCPK:TKTDY) CEO Shigehisa Takada, who has not made a public appearance since June, said the company was analyzing collected inflators to determine the cause of defects with its air bags.
- "Takata is prioritizing the supply of replacement parts. We have sufficient funds put aside, and we are not concerned that we are under-capitalized," announced Takada.
- The Japanese air bag supplier has so far put aside $774M to deal with recalls, but it faces dozens of class-action lawsuits as well as a U.S. criminal investigation.
Dec. 5, 2014, 2:56 AM
- Following Takata's move to leave an expanded recall of its defective air bags up to automakers, Mazda (OTCPK:MZDAY) is now the next to broaden its recall.
- Mazda's recall area for Takata passenger-side air bags now includes Texas, Louisiana, Mississippi, Alabama and Georgia as well as Guam, Saipan, and American Samoa.
- Other carmakers including Honda and Toyota have already agreed to go nationwide with the driver-side air bag recall, while Fiat Chrysler has so far refused.
Nov. 28, 2014, 6:45 AM
- Honda (NYSE:HMC) and Mazda (OTCPK:MZDAY) may have to recall another 200K cars in Japan to replace Takata (OTCPK:TKTDY) air bags if the latter complies with an order from the NHTSA to recall cars across the U.S. rather than just in humid regions.
- The Japanese air bag supplier has so far resisted a nationwide U.S. recall, saying it could divert replacement parts away from the high-humidity regions thought to need them most.
- Takata has until Tuesday to respond to the regulator's order.
- Previously: NHTSA gives Takata ultimatum
Jul. 7, 2014, 6:49 AM| Jul. 7, 2014, 6:49 AM
Jun. 23, 2014, 3:31 AM
- Honda (HMC) and Mazda (MZDAF) have announced the expected recall on their vehicles containing the Takata (TKTDF) airbag defect. The recall expands upon last year's 1.1M vehicle take back, which was issued after discovering the explosive airbag malfunction.
- Another 2M cars have now been recalled by Honda, and approximately 200k by Mazda.
Sep. 26, 2013, 2:43 PM
- Nine companies based in Japan and two executives agree to plead guilty and to pay a combined $740M in fines for their roles in conspiracies to fix the prices of auto parts sold to U.S. car manufacturers, the Department of Justice says.
- The DoJ says price-fixed automobile parts were sold to GM, Ford (F) and Chrysler (FIATY.PK), as well as to U.S. subsidiaries of Honda (HMC), Mazda (MZDAF.PK, MZDAY.PK), Mitsubishi (MMTOF.PK), Nissan (NSANY.OB), Toyota (TM) and Subaru (FUJHY.PK, FUJHF.PK).
- Among the parts affected by the conspiracies were seat belts, radiators, windshield wipers, air conditioning systems, power window motors and power steering components.
Jul. 17, 2013, 12:24 PMJapanese automakers look good to Mark Kingdon, presenting at Delivering Alpha. They trade at 8-10x earnings and he thinks the multiple should be 13. HIs top picks are Toyota (TM), Mazda (MZDAF.PK, MZDAY.PK), and Fuji Heavy/Subaru (FUJHY.PK). He's also on the Aegerion Pharmaceuticals (AEGR +2.6%) train thanks to its Juxtapid drug for high cholesterol. | Jul. 17, 2013, 12:24 PM
Feb. 14, 2013, 3:48 AM
Toyota (TM) sweeps J.D. Power's 2013 vehicle dependability study, with its Lexus brand snagging top spot, followed by GM (GM), Honda (HMC), Mazda (MZDAY.PK, MZDAF.PK) and Ford (F). Volkswagen (VLKAY.PK, VLKAF.PK) did not fare well, with 174 reported problems per 100 vehicles.| Feb. 14, 2013, 3:48 AM | 5 Comments
Dec. 3, 2012, 7:08 AM
Japanese automakers continue to struggle in China as a hangover effect from a territorial dispute dampens the enthusiasm of buyers to buy models emanating from Japan. For the month of November, Toyota (TM) saw sales fall 22% in China, while Mazda (MZDAF.PK) dropped off 29%. Honda will release China vehicle sales totals later.| Dec. 3, 2012, 7:08 AM | 1 Comment
Nov. 30, 2012, 8:23 AM
A thee-way joint venture between Ford (F), Mazda (MZDAF.PK), and Changan Automobile receives approval from Chinese authorities to split into two entities. Chinese partner Changan will be in the first venture with Ford and in a second with Mazda. The reason for the move is to give Ford and Mazda more breathing room to increase their individual presence in the nation.| Nov. 30, 2012, 8:23 AM | 1 Comment
Nov. 21, 2012, 8:24 AMFord (F), Mazda (MZDAF.PK, MZDAY.PK) and their Chinese partner agree to invest an additional $37M in their engine plant venture, following surging sales of Ford cars in China. Ford's Focus model has been selling so well that workers at its Chongqing car plant in southwest China have added shifts to keep up with demand. | Nov. 21, 2012, 8:24 AM | 2 Comments
Oct. 5, 2012, 6:25 AM
The Senkaku-Diaoyu islands dispute between Japan and China hit Japanese car makers hard in September, with Mitsubishi's Chinese sales plunging 63% Y/Y and those of Mazda by 35%. Toyota's (TM) sales skidded 40%, the FT reports, adding that the company will cut production in China by over half and suspend Lexus exports. Non-Japanese car makers have been benefiting from the spat.| Oct. 5, 2012, 6:25 AM | 1 Comment
Aug. 27, 2012, 6:01 AM
Ford (F) breaks ground on a factory in Chongqing in southwest China, where it plans to start making its 2-liter EcoBoost turbocharged engine. Although the country's market is cooling, Ford - and other car makers - see "a tremendous growth opportunity in the middle and the west." Meanwhile, the Chinese government has approved the break up of Ford's JV with Mazda and Chongqing Changan Automobile.| Aug. 27, 2012, 6:01 AM
May 29, 2012, 1:02 PMFiat (FIATY.PK) CEO John Elkann says the company doesn't have any plans to buy into Mazda (MZDAF.PK), but will move forward with the initiative to ups its stake in Chrysler to over 60% from its current level of 58.5% and could link up with an Asian partner. Last week, Fiat and Mazda announced that they will make new models together. | May 29, 2012, 1:02 PM
May 23, 2012, 6:47 AMMazda (MZDAF.PK) and Fiat (FIATY.PK) join forces for the first time with plans to develop a lightweight sports car and explore strategic opportunities in Europe. The linkup between the two automakers leaves Ford (F) with one less partner as a longstanding relationship with Mazda peters out. | May 23, 2012, 6:47 AM | 1 Comment
Apr. 5, 2012, 10:17 AMFord (F +0.3%) confirms a $600M investment in its Chongqing plant in China, with the firm making the investment along with JV partners Changan Automobile and Mazda (MZDAF.PK). The plan is to raise annual output by over 50% to 950K units - above expectations of 770K - as Ford looks to boost global sales by almost half to 8M cars a year by 2015. | Apr. 5, 2012, 10:17 AM | 3 Comments