Mazda seeks $2 billion as it targets return to profitability

Mazda is seeking to raise more than 160 billion yen ($1.87 billion) as is fights to emerge from financial hardship and secure its future as a strong and competitive global automotive manufacturer.
The announcement follows an admission from Mazda CEO Takashi Yamanouchi last week, who said he was “considering every option” to generate more capital for the company, which is staring down the barrel of its fourth consecutive annual loss and its worst financial result in 11 years.
Under its new ‘Structural Reform Plan’, Mazda plans to launch eight new vehicles based on its SkyActiv technology, beginning with the Mazda CX-5, and has a goal of expanding the percentage of SkyActiv-equipped vehicle sales to 80 per cent within the next four years.
A significant part of Mazda returning to profitability relies on achieving a healthier cost structure in the face of the strong yen. It plans to increase production outside of Japan to 50 per cent by March 2016, focusing on vehicle production in Mexico, SkyActiv engine production in China, and local production in Russia and Southeast Asia. Unspecific “restructuring measures” could see production shifted out of North America and Europe to Japan and other regions.
As suggested by Yamanouchi, Mazda will also “actively pursue” global alliances, with agreements potentially involving the sale of SkyActiv technologies.

Trillions of shares will be on the table as Mazda seeks to raise money from the public offering of new shares and through third-party allotment of shares.
Mazda will invest 40 billion yen ($469 million) in construction of vehicle and engine assembly factories in Mexico, Russia and Southeast Asia.
Thirty billion yen ($351 million) will be channelled into Japanese manufacturing facility investments for environmental and safety technology under the brand’s SkyActiv strategy.
The final 92.8 billion yen ($1.09 billion) has been earmarked for research and development of next-generation environmental and safety technologies, focusing on expanding into electric vehicle technology as well as improving internal combustion systems.
Mazda will also take a subordinated loan of 70 billion yen ($820 million) as it seeks to repay existing interest-bearing debts, with a portion of the funds to be invested into emerging countries. Borrowed from six banks, the loan has a due date of July 20, 2072.

New Ford Transit previewed by Tourneo Custom Concept

The Ford Tourneo Custom Concept will preview the new Ford Transit van range when it debuts at next month’s Geneva motor show.
Developed for the European and Asian markets (but not North America), the Tourneo passenger range will launch this year, with the related Transit commercial range will follow before the beginning of 2013.
The Tourneo Custom Concept adopts the brand’s Kinetic design language, with broad headlights, trapezoidal grille, prominent wheel arches and modern interior giving the van a much-needed injection of personality and style.

Ford says its designers worked hard to create an interior space that contains both a driver-focused cockpit and a luxurious cabin with the ambience and quality materials of a sedan.
The Tourneo Custom Concept features a suite of technology systems, many of which are only offered on high-end passenger vehicles. Among those is Ford’s Sync in-car connectivity system for phones and media devices, which includes an integrated emergency assistance function. The extensive safety package also includes front, side and curtain airbags, rear-view camera, lane departure warning and a tired-driver alert system.
The concept is powered by a 114kW 2.2-litre Duratorq TDCi diesel engine. The engine will also be available in 74kW and 92kW tunes across the Tourneo and Transit ranges, and will be equipped standard with stop-start technology as Ford targets class-leading fuel economy.

Ford says the Tourneo Custom Concept is based on a new Ford global platform that has been engineered to deliver “car-like dynamics [with] agile, responsive handling, enhanced ride comfort and reduced noise levels”.
Ford has produced the Transit-based Tourneo people mover since the 1990s. The current Tourneo – based on the Mk6 Transit – is sold in Europe and Asia, including the right-hand-drive UK market.

Jeep concepts revealed ahead of Geneva motor show

Jeep will unveil two “production-intent” concepts and a special edition model at next month’s Geneva motor show.
The first is officially called the Jeep Grand Cherokee production-intent sports concept, and as the name suggests, it is a vehicle the SUV manufacturer believes has production potential.

Based on the 3.0-litre V6 diesel Grand Cherokee, the design concept features a number of sports-oriented interior and exterior styling enhancements and a host of driver-assist technology systems.
Outside, the concept scores 20-inch high-gloss black alloy wheels, platinum chrome mesh grille with gloss black surround, tinted headlight housings, black rear lift-gate bar and black chrome dual exhaust outlets, and does away with roof racks for a sleeker appearance.

The interior adds a leather-wrapped heated steering wheel, ventilated leather/suede sports seats, carbon fibre instrument panel and door trim inserts, and bright, racing-style pedal pads.
Also included in the concept are adaptive cruise control, forward collision warning, blind spot detection and rear cross-path detection, which warns drivers of traffic moving towards their car when reversing out of parking spaces.

Debuting alongside the Grand Cherokee will be the Jeep Compass production-intent concept, a dark version of the compact soft-roader with a more sinister character.
The concept’s body, grille, headlamps, fog light surrounds, roof rails, step pads and 18-inch alloy wheels are all finished in black. The interior continues the theme with leather upholstery and new bright front and rear sill covers.
The Compass production-intent concept is powered by the 122kW/320Nm 2.2-litre diesel engine offered in Europe.

Finally, the special edition Jeep Wrangler Mountain will launch at Geneva.
The Mountain edition is specifically designed to stand out from the crowd. Based on the Wrangler Sport, Mountain models score black bonnet decals, Mineral Grey grille and 17-inch alloy wheels, side steps and a black fuel-filler door. The new Gecko green colour joins those already available in the Wrangler line-up.
Inside, the special edition gets grey stitched cloth seats, embroidered Mountain logo and tread-pattern slush mats.

Renault Megane RS 250 Australian Grand Prix limited edition confirmed

Renault Australia has announced the availability of the exclusive Megane RS 250 Australian Grand Prix Limited Edition as the French manufacturer celebrates its 35^th year in Formula One.
The Renault Megane RS 250 AGP comes hot on the heels of the Monaco Grand Prix limited edition, which arrived in August 2011 and – according to Renault – attracted strong customer demand in Australia.
Priced from $49,990 before on-road costs, the Megane RS 250 AGP is $3000 more expensive than the standard production RS 250 Trophee.

The extra investment gets you 19-inch Steev alloy wheels with red piping and R.S. badging, red Brembo brake calipers, and track-proven Bridgestone RE050A tyres. High-gloss black paint and a full fixed glass roof enhance the exterior look.
The Megane RS 250 AGP also features bi-xenon directional headlights, front and rear parking sensors, satellite navigation, and black leather Renault Sport Recaro front seats.
Just 50 Australian Grand Prix limited edition models have been made available to local Renault customers, with the cars set to hit Australian showrooms next month. Each one comes with an individually numbered plaque to confirm its build number in the limited production run.
The 2012 Renault Megane RS 250 AGP will have a high-profile role at the F1 Grand Prix in Melbourne. On March 12, it will race the Renault Jet Pack Man at the race circuit, and will be on display inside Albert Park from March 15-18.

Honda CR-V European prototype previews new SUV

The Honda CR-V European prototype has been revealed ahead of next week’s Geneva motor show.
The near-production-ready concept is a marginally softened and more refined take on the US-spec CR-V that was unveiled at last November’s Los Angeles auto show.

The prototype previews the design of the all-new fourth-generation soft-roader, which is set to go on sale throughout Europe in the second half of 2012.
The European prototype gives Australians a good insight into the styling of the new model, with our car likely to share more in common with the European version than the US one when it arrives in showrooms, also in the second half of the year.

The European Honda CR-V is set to benefit from revised headlights with clear indicators and LED daytime running lights, along with a mildly tweaked grille, and remodelled lower front bumper and fog light surrounds.
Unlike the US-spec soft-roader, the European CR-V will come with a choice of petrol and diesel powertrains, and the diesel option is certain to be considered for our market.

Engine details of the European CR-V are yet to be revealed. The US CR-V is powered by an upgraded version of the outgoing model’s 2.4-litre petrol engine, producing 138kW and 221Nm. The five-speed automatic all-wheel-drive model uses 9.4 litres of fuel per 100km according to US measurements (the old model uses 10.0L/100km under Australian standards).
New features in the CR-V include a full-colour multi-information display, rear-view camera with guidelines, integrated Bluetooth phone connectivity and SMS text-to-voice functionality.
More details on the Honda CR-V prototype will be revealed at Geneva on March 6, while full Australian specifications and prices will be released closer to the car’s local launch.