Mazda will build a new subcompact Toyota at its upcoming Mexican plant starting in 2015, Toyota said on Friday.

That new Toyota will be based on the current Mazda2, which itself is based on the Ford Fiesta. Unless Toyota comes out with a completely new model, we're certain this vehicle will be the next-generation Yaris, given the timing and Toyota's penchant for keeping its model lineup consistent. The current Yaris was refreshed for 2012 and not given a full redesign; its 1.5-liter engine and antiquated 4-speed automatic were carried over -- all the more reason to see an all-new Yaris in 2015. Toyota refused to comment when asked about this model.

While Mazda is closing its only North American plant in Michigan by year's end and moving production of its 6 sedan back to Japan, it is building a new plant in Mexico to build the smaller 2 and 3 models. When the plant is finished, Mazda will ship the "Toyota-brand vehicle" to U.S. dealers starting in summer 2015 (call it Yaris, already!). About 50,000 cars will be built for the U.S. per year, according to Toyota.

When Mazda announced it would close its Michigan plant in June 2011 -- which has built more than 1.7 million cars since 1987 -- the company cited the need to "improve production and investment efficiencies." To be specific, Mazda North America had been posting four consecutive years of losses through 2011 and began cutting U.S. employees in March.

It's a good thing Mazda North America won't be importing all of its cars from Japan. On Tuesday, Suzuki's U.S. division said it was pulling out of the country, in part because it mismanaged its shipments and was harder hit by fluctuating exchange rates than most of its domestically produced rivals.

[Source: Toyota]