Zoom Zoom! This magical sound will invoke a sense of enthusiasm and passion for driving in the minds of all automobile junkies. There is absolutely no doubt about that. Mazda Motor Corporation is one of the biggest Japanese automobile brands which have managed to capture the interest of the market for vehicles all over the world.
The Unusual Beginning
Initially located in Hiroshima, and named as Tokyo Cork Kogyo Company Ltd, Mazda was founded by Jurigo Matsuda in the year 1920. It’s funny how one of the world’s leading automobile manufacturing firm started out as a mere cork manufacturing factory! This is a classic example of how all giants have a humble beginning. Diversification was the concept that triggered their success. The firm slowly started expanding its production from making corks to include machined products. Soon enough, the firm rebranded itself as Tokyo Kogyo, dropping the term ‘Cork’ from it. Later, the company started manufacturing machine tools also.
Cork to Cars
The year 1931 was quite a bit unusual for Tokyo Kogyo. They did something that nobody had ever attempted to do. They introduced a three-wheel truck into the market. The concept was so bizarre yet so catchy. This was crazy enough for the firm to attract the attention of their target customers. The idea took off in 1945 when there was a high demand for military supply production.
It was only in the year 1960, that the company manufactured its very first passenger car, modelled Mazda R360 coupe. This was a major turning point for the company, and soon, it entered into an agreement with Felix Wankel to manufacture the German company’s famous rotary engine. This rotary engine has a lot of significance, as it has given a certain set of characteristics to the vehicles to increase its efficiency.
The Real Revolution
The release of the Mazda Cosmo Sports 110S model, in 1967, brought the real revolution, as the car featured the German rotary engine. Ever since then, the firm started expanding its market across the European continent. Soon enough, after the year 1970, Mazda started expanding their production and reached to the US as well. Later on, the Ford Motor Company purchased a 25% stake in Tokyo Kogyo, leading the two firms to work together.
It was in the year 1984 that the firm officially changes its name from Tokyo Kogyo to Mazda Motor Corporation. Mazda then developed a US production facility, which was located in the suburban areas of Detroit. All these major changes took place in a very short span of time, and the company saw exponential growth in their market value and revenue. The name Mazda slowly began to make a mark in the automobile industry, and it is safe to say that the company has come a long way from manufacturing quirky three-wheeled trucks to becoming the super players in the market.
A major event in the timeline of Mazda Motor Corporation took place, when the firm sold its 50% share of the Detroit plant to Ford Motor Corporation, and thus, created a joint venture named AutoAlliance International Inc.
The Downfall and Rise
After a long success streak, in 1994, Mazda faced its first downfall. The company fell into loss, and this, maintained to be for another 5 years. Following which, Ford took over the major shares of operations in Mazda and named Henry J Wallace as the President. It was for the very first time in history that a non-Japanese had headed a Japanese firm. After a few years, in 1999, Mazda regained its lost glory as the firm attained its profit status after a long six years.
Mazda Motor Corporation Today
Mazda now positions itself as the high-end Japanese Automobile technology giant, which started out as a cork manufacturing factory somewhere in Hiroshima. The firm still has its headquarters in Hiroshima and is headed by Akira Marumoto, who is the Representative Director of the firm. The automobile giant now focuses more on the manufacture and sales of passenger cars and commercial vehicles, with a net worth of 284 billion dollars. With their vision to make driving more fun and carefree, they have developed several successful models that have been accepted wholeheartedly by the customers all over the globe. The network of Mazda has spread over countries like the US, Germany and China. The success story of Mazda Motor Corporation is truly an inspiration for all the beginners, who envision making it big in the business world.
Aparna is an MBA who turned into a content writer totally by chance.She has written articles on various genres such as fashion, finance, real estate and cryptocurrency. She is also a part-time blogger and a voracious reader. She believes that you should be young and crazy to become old and wise. She reads to her hearts fullest, which is again, an exhilarating experience.