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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 considering a 'hyper' Mazda3 with the 250-hp 2.5-liter turbo four

Mazda boss Akira Marumoto said last year there'd be no Mazdaspeed version of the new Mazda3 because the hot hatch segment wasn't a priority for the carmaker. Then Mazda engineer Dave Coleman told Road & Track that without "an engine on the shelf that would fit properly," an MPS variant made no sense. The first reader comment on our Coleman post read, "Engine — you have it; cue up the 2.5T." Mazda might have been listening. Program manager Kota Beppu told Autocar he'd like a "hyper" Mazda3, the outlet figuring the 2.5-liter four-cylinder turbo would make the most sense for power. Autocar wrote "the project had not been officially signed off, [but] insiders suggest that is a formality." When Car and Driver queried Mazda and its sources about the report, the magazine realized "the company is seriously considering a high-performance hot hatch." What's more, "Drew Cary, senior manager for brand communications, said, 'We encourage people to ask for it, though. Our planners and executives are watching and listening to fans.'" The turbocharged 2.5-liter SkyActiv-G four-cylinder — which doesn't sell in Europe — makes 250 hp on premium gasoline and 310 pound-feet of torque in the Mazda6, CX-5 and CX-9. A next-generation SkyActiv-G is predicted on the way next year, bringing more boost and power. Even as is, we're talking a chunky lump of power to send to the front wheels, and Beppu mentioned torque steer. The new Mazda3's all-wheel drive would alleviate that bugbear. Unlike the raw, fast-twitch reflexes of the last Mazdaspeed3 from 2013, Beppu says a new model "needs to be responsible and friendly ... more friendly than a Golf GTI." And, "It should be fast." The polished looks and interior address the necessary perceptions. CD's done the math on the current 2.5-liter and predicts a five-second sprint to 60 miles per hour, which is Volkswagen Golf R and Honda Civic Type R territory, so GTI comparisons could be a case of aiming low. Imagine a 300-hp engine with a touch more torque and a six-speed manual ... If Mazda follows through with such a product, it could take two years to get the green light. However, we're told that Mazda's Los Angeles research and development center has already built a proof-of-concept to encourage and anticipate that green light.

Living Life Large: Driving $2 million worth of cars in one week

Monterey Car Week has quickly become one of my favorite events of the year. There's something for everyone – classic car shows, modern concepts and new vehicle debuts, auctions, racing, and so much more. From a media perspective, there's also a chance to drive a ton of cars. Many automakers bring their latest wares out to Monterey for us to test during our limited free time, and it's a great opportunity to experience fantastic metal against a gorgeous backdrop. That's exactly what I did this year. Instead of flying into Monterey and being driven around, my journey started in Los Angeles and ended in Napa, and I managed to get behind the wheel of some $2 million worth of new cars. Some were old favorites, and many were new experiences. But looking back, this was one of the best weeks of driving I've had in years. Rather than try to come up with some common arc to tie these cars together, here are my notes on all the cars I tested in California earlier this month, presented in the order in which they were driven. 2016 Mazda CX-3 The CX-3 pictured here isn't the exact one I drove in California, but it's close. The only difference was color – my delivered-to-LAX tester wore Mazda's awesome new Ceramic hue (pictured below on the MX-5 Miata). I used the CX-3 to slum through crummy Los Angeles traffic for two hours on the way out to Santa Barbara, with a quick stop at In-N-Out Burger on the way for good measure. A lot nicer inside than I remember. Everyone praises Mazda for its excellence in engineering and design, but there's a lot to be said for the improvements in overall interior refinement. Quiet, comfortable, and well-equipped; the CX-3 made sitting on the 405 freeway a lot more pleasant. Not all that functional. I had a hard time fitting a week's worth of luggage for two people inside. The cargo area and rear passenger compartment were filled, with only enough room on top to see out the back window. A Honda HR-V would've swallowed all that luggage with plenty of room for more. So good to drive. Not surprising, since this wasn't my first time in the CX-3. I knew this CUV would be good on twisty roads, but on the highway it's really exceptional. Road and wind noise are minimal and the overall ride quality is a comfortable sort of sporty. This is definitely something I could drive every day – it's enjoyable during commuting and entertaining on more interesting roads.