Japan’s Mazda founded
On this day in 1920 Jujiro Matsuda (1875-1952) forms Toyo Cork Kogyo a business that makes cork in Hiroshima Japan just over a decade later the company produces its first automobile and eventually changes its name to Mazda.Today Mazda is known for its affordable quality-performance vehicles including the Miata the worlds best-selling two-seat roadster.In 1931 the company launched the Mazda-Go a three-wheeled vehicle that resembled a motorcycle with a cargo-carrier at the back.The companys car development plans were halted during World War II and the bombing of Hiroshima.
In the 1950s Mazda began making small four-wheel trucks.The company launched its first passenger car the R360 Coupe in 1960 in Japan.Seven years later Mazda debuted the first rotary engine car the Cosmo Sport 110S.
Mazda entered the American market in 1970 with the R100 coupe the first mass-produced rotary-powered car in the U.S.In 1978 the Mazda RX-7 an affordable peak-performing sports car debuted.The following year the Ford Motor Company took a 25 percent stake in the company.In 1989 at the Chicago Auto Show Mazda unveiled the MX-5 Miata a two-door sports car carrying a starting price tag of 13800.
According to Mazda the concept for the car was affordable to buy and use lightweight Jinba Ittai (rider and horse as one) handling and classic roadster looks.The 2000 Guinness Book of World Records named the Miata the best-selling two-seat convertible in history.In 1991 in another milestone for the company a Mazda 787 B won the 24 Hours of Le Mans race becoming the first rotary-powered car as well as the first Japanese-made auto to do so.However Mazda was impacted by the economic slump in Japan in the 1990s and in 1996 Ford took a controlling stake in the automaker and rescued it from potential bankruptcy.
The two companies shared manufacturing facilities in several countries along with vehicle platforms and other resources.In 2008 Ford which had been hurt by the global economic crisis and slumping auto sales relinquished control of Mazda by selling 20 percent of its controlling stake for around 540 million.(Also that year General Motors sold its stake in Japan-based Suzuki Motor.)In 2009 Mazda celebrated the 20th anniversary of the MX-5 Miata whose sales by then had topped nearly 900000 and which had won almost 180 major automotive awards.
