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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: Penn & Teller

Mazda turned to magic to highlight its refreshed CX-5, bringing in Las Vegas staples Penn and Teller to saw the CUV in half. The glitzy spot has a very Sin City feel to it, although considering some of the ads we've seen tonight, it's short on shock value, humor and heart-tugging imagery. Have a look, though, and let us know what you think.

Mazda previews new CX-9 ahead of LA debut

Mazda will unveil its new CX-9 crossover at the upcoming Los Angeles Auto Show. The teaser rendering above gives us an idea of what to expect. The CX-9 was launched nine years ago. And though it's undergone a series of updates along the way, it's due for replacement. Fortunately that's just what Mazda has in store. We saw that much ourselves in spy photos and videos of the upcoming new model undergoing testing, and the company whet our appetites with the reveal of the Koeru concept at the Frankfurt Motor Show just a couple of months ago. Judging by the rendering above, it would appear that the new CX-9 will draw heavily from that design study in its production form. Naturally some details will be changed along the road from show stand to showroom, including the usual suspects like the wheel size and wing mirrors. Most notable, however, is that while the Koeru concept incorporated five seats, the CX-9 is a seven-seater – and the new model is confirmed to keep that three-row setup. Beyond that, the new CX-9 is set to apply the latest evolution of the company's Kodo design language – as seen on the aforementioned Koeru and sleek RX-Vision concepts – to a larger form. It also promises to feature Mazda's latest Skyactiv technologies to keep it up with the times. For more than that, however, we'll have to wait – but not too long, as the vehicle is set to debut mere weeks from now at the LA show. Mazda to Unveil All-New CX-9 Three-Row Midsize Crossover SUV at Los Angeles Auto Show HIROSHIMA, Japan, Nov. 4, 2015 /PRNewswire/ -- Mazda Motor Corporation announced today it will premiere the all-new Mazda CX-9 three-row midsize crossover SUV at the 2015 Los Angeles Auto Show, which runs from November 20 to 29. Fully incorporating the latest SKYACTIV technologies and KODO—Soul of Motion design, the all-new CX-9 is a high-end model of Mazda's new-generation lineup. The all-new CX-9 builds on the feeling of life imbued by KODO and moves toward a more premium design execution that befits a three-row midsize crossover SUV.