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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 posts second-quarter loss, but gets a rebound in North America sales

TOKYO — Mazda on Thursday posted a 7.59 billion yen ($73.4 million) operating loss in the three months ended Sept 30 as sales contracted amid the coronavirus pandemic. The loss, calculated by Reuters from the company's half-year result, compares with an 18.9 billion profit in the same quarter last year and a 45.3 billion yen loss in the first three months of the business year, which was its worst in quarter in 11 years. Mazda posted a smaller loss in the second quarter after it benefited from a rebound in sales in North America, its biggest market. Vehicle sales there rose 1% from a year earlier.  Sales in the United States have slipped approximately 1% so far in 2020 as compared to 2019, despite strong sales of the CX-9, CX-5 and new CX-30 crossovers.  Japan's No.5 automaker kept its full-year forecast for an operating loss of 40 billion yen. That is better than the average full-year estimate for a 53.3 billion yen operating loss from 17 analysts polled by Refinitiv. For the full business year the maker of the CX-5 SUV crossover and Mazda3 sedan kept its full-year prediction for global vehicle sales to fall 8.5% to 1.3 million units, the lowest in seven years.

Leaked images show digital gauge cluster for Mazda3

Most everything divulged about the 2019 Mazda3 so far has focused on the trick Spark Controlled Compression Ignition (SPCCI) Skyactiv-X engine. If a series of photos posted on a Chinese website are accurate, it looks like Mazda has novel plans for the cockpit as well. The three images show a three-color, all-digital gauge cluster in two different configurations. The first configuration places a three-digit speedo in the center of a blue-ringed tachometer, with gear indicator and water temp displays on the left, fuel range calculator and what appears to be a funky clock on the right. The second configuration splits the tachometer to the left and the speedo to the right. In between them is what looks like a road surface display for automatic cruise control. Trip info lies just under the blue-banded road, while water temp, fuel gauge, gear indicator and range info line up across the bottom. A swath of empty space on the left could be where Mazda's relocated the current car's passel of warning signals. Of note: Everything around the digital gauges appears to come straight from the current Mazda3. The instrument panel surround, the steering wheel and buttons, the stalks, all of it is lifted from today's car. If the photos are what's headed our way on some trim of the 2019 Mazda3, though, they show a clean, handsome evolution of the no-nonsense cluster in the current compact hatch. Mazda's worked up a head of good press on the run-up to the Mazda3 launch for both the engine and the dynamics. We're told we'll get between 10 and 30 percent more torque from the 2.0-liter SPCCI Skyactiv-X, and about 25 percent better fuel economy compared to today's 2.0-liter Skyactiv-G. Handling-wise, the jinba ittai philosophy — horse and rider as one — has led to engineers reworking everything from tire sidewall stiffness to multi-contoured torsion elements and the mounting and shape of the seats. The hatchback's torsional stiffness climbs by 30 percent, any excess rigidity countered by 7.5 meters of "matrix resin material" applied in 16 places on the body "to absorb vibration and dissipate it as heat." The point has been to eliminate dynamic static between the driver and the road, and then to give the driver the best natural seating position to take advantage of the body's reflexes to dynamic input. At the same time, this digital gauge cluster might also give that driver something tasty to look at. Related Video: