December 27, 1996
Mazda Motor Corp. said Thursday it has boosted its stake in Mazda Motor of America Inc. to 88% from 50% in a bid to strengthen the financial structure of the car maker's U.S. marketing subsidiary. The Japanese car maker, 33% owned by Ford Motor Co., said it is investing $126 million in the subsidiary by acquiring 5.63 million new shares.
November 22, 1996 |
In a move that authorities hope will push the entire auto industry to clean up its act, five major car makers agreed Thursday to stop hiding costs in ads promoting their car leasing programs. General Motors Corp., Isuzu Motors Ltd., Honda Motor Co. and Mitsubishi Motor Corp. reached settlements with the Federal Trade Commission and a group of 23 state attorneys general after more than six months of negotiations. Irvine-based Mazda Motor of America Inc.
September 6, 1995 |
Japanese car importer Mazda Motor of America, still hurting from sluggish sales and profit margins shrunk by the strength of the yen, is considering a new round of layoffs to help pare operating costs, a top company official said Tuesday. "We are looking at a variety of options," including restructuring and layoffs, said Jay Amestoy, vice president of corporate affairs. The company on Tuesday reported a 29% decrease in U.S. sales during August.
March 23, 1995 |
Narrowing It Down: It used to be that recalls involved tens of thousands of cars. Now we're down to this: Mazda Motor America Inc. is recalling 564 of its 1995-model 626 sedans to inspect and possibly replace the passenger-side air-bag module. The Irvine-based importer and distributor said that only 35 of the cars have actually left dealers' lots and are in daily use. So the company has done the recall by telephone.
March 2, 1995
Yoji Toyama has been appointed president of Mazda Motor of America Inc. in Irvine. He succeeds Kazuo Sonoguchi, who returns to the parent company, Mazda Motor Corp. in Hiroshima, Japan. Toyama, a 30-year Mazda veteran, was previously president of Mazda North America Inc. in Flat Rock, Mich., as well as Mazda Systems Services of North America Inc. Yutaka Hirose, president of Mazda Research & Development of North America Inc.
May 3, 1994 |
Two of Orange County's foreign-based auto companies won coveted Consumer Reports recommendations for nine of their models in the magazine's annual April auto issue. The companies are Mazda, whose Mazda Motor of America Inc. unit is headquartered in Irvine, and Mitsubishi, whose Mitsubishi Motor Sales of America import and distribution arm is located in Cypress. The cars, by size and price range, are: Compacts under $20,000: Mazda 626 and Mitsubishi Galant.