Welcome to The Grid, R&T's quick roundup of the auto industry and motorsports news you should know this morning.
Mazda is finally putting a turbocharged engine in the attractive, good-to-drive 3 sedan and hatch. Sadly, though, this isn't the return of the MazdaSpeed 3. Instead, the turbo is on the upmarket trims, a more premium option that meshes with Mazda's push to be seen as a proto-luxury marque.
That comes with a bigger price tag. The normal Mazda 3 front-wheel-drive sedan starts at $21,445 for 2021, but opting for the all-wheel-drive-only Turbo jacks the entrance price to $30,845. If you want a hatch, it'll set you back $31,845 with destination. Neither of those are fully loaded; the top trim "Premium Plus" turbo starts at $33,395 for the sedan and $34,695 for the hatchback. That's deep into GTI territory, but it's got 250 hp to back up that price tag.
BMW Posts Its First Quarterly Loss in 11 Years
Pummeled by the coronavirus-related economic downturn, BMW joined an ever-growing list of automakers pushed into the red last quarter. From April to June, Automotive News reports that the company recorded a $787 million loss. It's the company's first quarterly loss since 2009, suggesting even strong balance sheets can't stand up to the massive global decline in demand and car buying.
Honda's Loss Is Even Bigger
If the news at BMW is bad, the news at Honda is worse. The company lost about $1 billion in the second quarter, Automotive News reports. This time last year, it reported a $2.35 billion operating profit, so the slowdown has taken an immense toll. The company still expects to be profitable for the fiscal year, but its new guidance suggests that full-year profits will be down 68 percent this year.
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