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Mazda braces for record annual operating loss as car sales slump

TOKYO — Mazda Motor Corp forecast a record annual operating loss on Friday as the Japanese automaker continues to be pummeled by falling vehicle sales due to the COVID-19 pandemic. Japan's No. 5 automaker anticipates a 40 billion yen ($383.5 million) loss for the year to March, joining a growing number of automakers, including Ford and Nissan, which expect annual losses after the virus shuttered vehicle plants and kept customers away from car dealerships. Even before the coronavirus outbreak, the maker of the CX-5 SUV crossover and the Mazda3 sedan had been suffering from sliding profits for the past two years as slim new vehicle offerings has knocked sales in the United States and China, its two biggest markets. In the year to March, Mazda anticipates an 8% fall in global vehicle sales to 1.3 million units, its lowest in seven years, which will likely result in an operating loss. The automaker said it would forgo paying a dividend this year. Ahead of Friday's announcement, the company's shares fell 7%, as the consensus forecast in a Refinitiv poll of 19 analysts was for a 46 billion yen annual loss. Mazda posted an operating loss of 45.3 billion yen for the first quarter, its weakest in 11 years, due to a 31% drop in vehicle sales between April and June. In the April-June quarter, sales fell to 244,000 units, largely due to a drop in demand at home and in Europe. Sales in North America, Mazda's biggest market, fell 19% in the same period. But China was a bright spot, as sales rose 13% during the quarter as car demand has returned to the world's largest auto market, having recovered relatively quickly from the virus.

Mazda recalls 2019-2020 Mazda3 for errant activation of emergency braking system

The newly redesigned Mazda3 has been subject to numerous recalls since it went on sale for the 2019 model year. Today brings news of another such occurrence, as Mazda recalls 35,390 2019-2020 Mazda3s (sedans and hatchbacks). This recall is related to the automatic emergency braking system equipped to certain models. According to Mazda, affected vehicles may “unexpectedly stop while driving due to inadvertent activation of the Smart Braking System automatic emergency braking system.” The programming of the systemÂ’s software could cause the Mazda3 to “falsely detect an obstacle in front of the vehicle while driving.” In response to that detection, the software may automatically apply the brakes despite no collision being imminent. We donÂ’t have to explain how dangerous that could end up being for the driver and those around them. Your car slamming on the brakes for no reason could easily be the cause of an accident. As of now, Mazda says no injuries or deaths have been reported as a result of the defect. In case you havenÂ’t experienced the system in your Mazda3 yet, there is something to look out for. Mazda says a warning alarm will sound and a warning message will appear in the instrument cluster and head-up display when the car is about to perform an emergency stop. Mazda said that itÂ’s reported the defect to the NHTSA, but it hasnÂ’t been posted on the website yet. The fix is easy for some, but more difficult for others. Vehicles with early build dates will need the whole instrument cluster replaced or reprogrammed, as these cars have a different procedure for "temporary manual deactivation of the Smart Braking System." These early build cars will also receive a new owner's manual to reflect the revised procedure of temporary manual deactivation of the system. Later cars will only need the Smart Braking System software reprogrammed with an improved version. Mailings to owners for notification purposes should be completed on or before February 17 next year.

Consumer Reports declares most and least loved cars [w/video]

Consumer Reports is crunching the numbers from its annual owner-satisfaction survey, and part of that process is finding out how attached drivers are to their cars. CR simply asks readers of models up to three years old if they would buy the same vehicle again in light of their entire ownership experience, and tallies the results. After looking at the responses for about 350,000 vehicles, it turns out that people really love a certain California-built, electrically powered luxury sedan. That's right, this year's the overall winner was the Tesla Model S with a whopping 98 percent of owners saying they would purchase another one (the Model S also won this award last year, with 99 percent satisfaction). The Chevrolet Corvette Stingray came in a close second with 95 percent of drivers hoping to park another one in their garage. A few models weren't quite so favored, though. The Nissan Versa Sedan was the least loved model among its owners; a mere 42 percent said that they would purchase another. The aging Jeep Compass didn't do much better, with just 43 percent of drivers willing to buy the softroader again. On average, about 70 percent of owners say they would buy their car again, and only four cars ranked below 50 percent in CR's findings. Check out the video above to see some of the winners and losers in a few of CR's categories. If you're a subscriber, you can check out the full list on its website. Related Gallery Consumer Reports Most Loved Cars 2014 Related Gallery Consumer Reports Least Loved Cars 2014 News Source: Consumer Reports - sub. req., Consumer Reports via YouTube Chevrolet Ford Mazda Mercedes-Benz Porsche Subaru Tesla Ownership Videos car ownership