We've owned this Mazda 2 for over 12 months and in that time, the passenger side mirror stopped folding.
To fix this in our case we used the following process.
Step 1: Give the Mirrors a quick wash and spray the hosepipe around the mirror glass to make sure any loose dirt from inside the mirror is removed.
Step 2: With the mirrors extended to the out position and the mirror glass tilted as far out as the mirrors will go, so you can see the wires going into the motor inside the mirror.
Step 3: Spray lots of quality penetrating fluid and lubricant into that area and leave it to settle for 10-20mins. Now try to fold the mirror. If this doesn't happen repeat again and work the mirror manually.
After this our mirror started working again but it is a bit slower than the drivers side but that's ok for now.
Hope this helps anyone that has this issue but really it should be done as your maintenance routine 👍 We also oiled the drivers side too.