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Mazda's first-quarter profit slumps on weak sales in U.S. and China

TOKYO — Mazda reported a 79% drop in quarterly operating profit, falling significantly short of estimates, as it continues to struggle with declining U.S. and Chinese sales, while a strengthening yen also cut into its bottom line. Operating profit at JapanÂ’s No.5 automaker was 7.0 billion yen ($64 million) in the first quarter ended June, versus around 33 billion yen a year ago and less than half of an average forecast for 18.5 billion yen from analysts polled by Refinitiv. Mazda, however, reiterated its forecast for a 33% rise in operating profit to 110 billion yen in the year ending March. ThursdayÂ’s profit announcement marks MazdaÂ’s poorest first-quarter operating performance since the June 2012 quarter. The automaker has been struggling with falling demand for its cars over the past year or so, while it is also recovering from flood-related damage to its factories in Japan that led to a quarterly loss in the July quarter of 2018. The Nikkei business daily on Wednesday had reported that operating profit at the company would fall around 70% for the quarter due to lower sales in the United States. Mazda posted global sales of 353,000 units for the quarter, down 12% from a year ago. Its sales in the United States, its biggest market, fell 15% to 68,000 units, while in China, Mazda sold 54,000 vehicles, down 21% on the year. A trade war between the top two economies and slowing growth in China, the worldÂ’s biggest auto market, have prompted a broad-based sales downturn in the global auto sector. Automakers are grappling with easing demand for cars just as they must invest heavily in new technologies including electric cars, autonomous driving technologies and ride-sharing services to survive a major industry shift away from car ownership. Many of MazdaÂ’s rivals at home and abroad have been reporting disappointing quarterly results, with Nissan and Ford also announcing job cuts and possible plant closures earlier this month. The United States is a key source of revenue for Mazda, but it imports all its vehicles sold there, exposing it to a threatened hike in U.S. tariffs on imported cars from Japan. To limit its vulnerability to possible tariffs and currency fluctuations, Mazda is investing in a new plant in the U.S. state of Alabama, a joint project with Toyota.

Mazda announces Takata expansion in US to 472k vehicles [UPDATE]

Update: Mazda is revising the total number of vehicles affected by its Takata airbag inflator recall downward to 464,684 units, compared to the original NHTSA documents showing 472,056. According to Mazda Public Affairs Manager Tamara Mlynarczyk to Autoblog, "It is my understanding that Mazda Japan will be submitting a revised Part 573 on Monday that reflects our numbers." The company's official statement on the recall is now included below. Mazda is the latest automaker in the US to officially announce the details of its expanded Takata airbag inflator recall. The company is broadening its campaign to cover a total of 472,056 vehicles. Mazda's airbag inflator recall covers now the front driver's side for the 2003-2008 Mazda6 produced between May 29, 2002, and May 5, 2008, the 2004-2008 Mazda RX-8 from between April 10, 2003, and February 18, 2008, and the 2006-2007 Mazdaspeed6 made between August 4, 2005, and June 29, 2007. Among these three models there are 444,907 units affected. This is an expansion from of the previous total of about 330,000 examples from 2004-2008. The passenger-side airbag of the 2004-2006 B-Series pickup is also being recalled for those with build dates between April 17, 2003, and May 2, 2006. There are 27,149 of these vehicles in need of replacement parts. Takata's airbag inflator recalls have affected 34 million vehicles nationwide from 11 automakers. In a recent hearing before Congress, Takata said it was producing 740,000 replacement kits a month and hoped to grow that to a million. Other suppliers have also started making the parts. Related Video: RECALL Subject : Driver's Frontal Air Bag May Rupture Report Receipt Date: JUN 04, 2015 NHTSA Campaign Number: 15V345000 Component(s): AIR BAGS Potential Number of Units Affected: 444,907 All Products Associated with this Recall Vehicle Make Model Model Year(s) MAZDA MAZDA6 2003-2008 MAZDA MAZDASPEED6 2006-2007 MAZDA RX-8 2004-2008 Details Manufacturer: Mazda North American Operations SUMMARY: Mazda North American Operations (Mazda) is recalling certain model year 2003-2008 Mazda6 vehicles manufactured May 29, 2002, to May 5, 2008, 2004-2008 RX-8 vehicles manufactured April 10, 2003, to February 18, 2008, and 2006-2007 Mazdaspeed6 vehicles manufactured August 4, 2005, to June 29, 2007.

Mazda Hot Lap Challenge will put simulator drivers in real Miatas

Using a video game as a feeder racing series is nothing new. Sony and Nissan have run the GT Academy for years now, rewarding the best Gran Turismo players with the chance to drive a real car. It seems Mazda wants a piece of the action. This year, it will host an iRacing Hot Lap Challenge, giving the best players a trip to the 2019 Rolex 24 at Daytona. The two fastest drivers will race head-to-head, with the winner earning a test drive in a Mazda MX-5 Miata Cup car. During 2018, Mazda will host events events at select races where participants can lap Daytona in an iRacing simulator. Those who can't attend one of those events will have the chance to compete on iRacing at home. At the end of the year, 35 drivers will compete for a trip to the 2019 race. That winner will be a guest of Mazda Team Joest. The event is open to U.S. residents age 18 and above. Full details can be found on the iRacing website. The event calendar is listed below. Online time attack schedule Week 1: 4/13 – 4/15 – Daytona Road Course Week 2: 5/25 – 5/26 – Lime Rock Park Week 3: 6/29 – 7/1 – Watkins Glen Week 4: 8/3 – 8/5 – Road America Week 5: 8/24 – 8/25 – Gateway Motorsports Park Week 6 9/7 – 9/9 – Laguna Seca Week 7: 10/11 – 10/13 – Road Atlanta TA sessions will be available the entire day(s) based on GMT At-track schedule Week 1: 4/13 – 4/15 – Long Beach Week 2: 5/25 – 5/26 – Lime Rock Park Week 3: 6/29 – 7/1 – Watkins Glen Week 4: 8/3 – 8/5 – Road America Week 5: 8/24 – 8/25 – Gateway Motorsports Park Week 6 9/7 – 9/9 – Laguna Seca Week 7: 10/11 – 10/13 – Road Atlanta Related Video: News Source: Mazda, iRacing Marketing/Advertising Toys/Games Mazda Convertible Racing Vehicles mazda mx-5 mazda mx-5 cup