Mazda just rolled out the stunning and innovative new Mazda3 right as Ford and GM bails on small cars

• Mazda introduced the new 2019 Mazda3 at the 2018 LA Auto Show on Wednesday.
• The Mazda3 will be available as both a sedan and a hatchback.
• The Mazda3 is available with five different four-cylinder engines including a diesel and mild hybrid.
• The new Mazda3 goes on sales in early 2019.

Mazda introduced the new 2019 Mazda3 at the 2018 LA Auto Show on Wednesday. Even as Ford and General Motors announced their plans to exit the passenger car market, Mazda has unveiled one of the most striking and innovate compact cars in recent memory.

The fourth generation Mazda3, which is expected to go on sale in early 2019, will be available as both a sedan and four-door hatchback.

It's the latest in a long line of modern compact Mazdas that date back to the 323 hatchback and sedan. (The Mazda 323 sedan sold as the Protege in the US.)

Aesthetically, the Mazda3 represents the latest development in the Hiroshima, Japan-based automakers striking Kodo design language. The Mazda3 hatchback, in particular, is a direct descendant of the company's well-received Kai concept car that made the rounds at international auto shows last year.

Power for the Mazda3 comes from a quintet of four-cylinder engines ranging from 1.5 liters in displacement to 2.5 liters. Mazda is pushing its fuel-saving SkyActiv technology to new levels with a long-awaited 1.8-liter diesel and a mild hybrid.

Mazda has not revealed the exact power output of any of the engines.

The Mazda3 will be available with a choice of a six-speed manual and a six-speed automatic transmission. All-wheel-drive is also available.

Read more: Honda just unveiled a new all-American SUV to take on Ford, Nissan, and Chevy.

The new Mazda3 comes during a period of contraction for the compact car segment. Through October, compact car sales are down 13.8% in the US. The Mazda3 is down even more at 14.3%. On Monday, GM announced that it plans to kill of the Cruze compact in 2019.

Hopefully, the innovative and striking 2019 Mazda3 will inject some much need lift into the segment. Official pricing is not yet available.