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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's product roadmap after Skyactiv-X: diesel, rotary, hybrids, even EVs

When we first heard that Mazda had cleared the major hurdles on gasoline compression ignition, and were just tidying up the details with clear production intent, the first kneejerk thought was: That's it for Mazda's consumer diesel. In particular, the Skyactiv-D that was intended for sale in the U.S., only to be delayed for years by various regulatory roadblocks and other issues that Mazda is frustratingly (but understandably) vague on. At least, it'd die out at some point down the road once Skyactiv-X was widely available. It turns out that's not the case at all. Mazda will adopt an approach that becomes more and more electrified and diverse the closer you get to 2035. But internal combustion will play a deep and central role up to that point, and probably beyond. Before we get to what those different powertrains, diesel and electrified, will look like down the road, let's stop and think about Mazda's philosophy. It couldn't be more different from the approach of most manufacturers that are currently producing BEVs and hybrids, which are heavily incentivized by both the automakers and the government, both state and local, depending on the locality. Even with all that cash on top of the hood, the market penetration of electrified vehicles is low. Mazda's too small to lose money paying people to drive EVs and hybrids. Its risky solution (which is plucky, but has had mixed results) is to simply improve the internal combustion engine. It's achieved the best fleet average fuel economy in the U.S. already, using a range of direct-injection gas engines that are mostly naturally aspirated. A few tiny nods to electrification have been introduced, like i-eLoop regenerative braking and the Demio EV (a Japanese-market, last-generation Mazda2 with a 20kWh battery that was tested with a tiny rotary engine range extender). But the focus is on combustion, not electricity. And that focus isn't going away anytime soon. Mazda believes that pure gasoline, gasoline hybrid, and gasoline PHEV vehicles will remain the vast majority of vehicle sold through 2035. At that point, Mazda forecasts, BEV and fuel cell vehicles should make up about 15 percent of the total of Mazda's lineup. The remaining 85 percent will utilize some form of internal combustion engine. Now, that includes hybrids and even a small number of CNG/LPG cars. And these are global numbers, as well. There may be even fewer fuel cell and CNG/LPG vehicles sold here than abroad.

Editors' Picks February 2021 | Ford F-150, Genesis GV80, Mazda CX-30 and more

If we’ve driven and reviewed it, thereÂ’s an Autoblog Rating for it. ItÂ’s been over two years since we launched a new rating system to help you evaluate cars at a glance. We tweaked and improved it along the way and quickly arrived at a consistent process for giving each and every car on sale today a fair score. Cars that are exemplary or stand out in their respective segments get EditorsÂ’ Pick status. Those are the ones weÂ’d recommend to our friends, family and anybody whoÂ’s curious and asks the question. Every car we rate gets a score from 1 to 10, making it easy for you to tell if itÂ’s a car worth pursuing and possibly purchasing. YouÂ’ll find the scores of previously-rated cars attached toward the top of our written reviews. For example, the Bronco SportÂ’s rating can be found here. The Acura TLXÂ’s rating is in this post, and the Nissan RogueÂ’s rating is right here. There are hundreds of examples to be found. The above examples make up the most natural ways to find the Autoblog rating when researching for your next car, but starting today, weÂ’re going to begin calling out each new set of Editors' Picks per month in their own breakout stories. This will put the newest and most recently refreshed cars on sale on a pedestal for you to see which ones are worth your while. WeÂ’ll typically rate anywhere between 5-10 new cars per month, so you can count on just a select few from those to make this list. Expect to see this recurring ratings post each month going forward, and read on for FebruaryÂ’s EditorsÂ’ Picks.   2021 Genesis GV80 2021 Genesis GV80 View 18 Photos Quick take: The stylish GV80 offers useful safety features, compelling design and sporty dynamics to push it near the top of the segment. Genesis takes risks with this aggressive crossover, and the result is a luxurious vehicle that is rewarding to drive. Score: 8.5 What it competes with: Lincoln Aviator, Volvo XC90, BMW X5, Mercedes-Benz GLE-Class, Acura MDX, Lexus RX Pros: Beautiful design, good road manners, awesome value Cons: Small third row and cargo space, less comfortable standard suspension  From the editors: Editor-in-Chief Greg Migliore — “The GV80 is a hugely important vehicle for Genesis. It makes a style statement, has an elegant interior and is a compelling all-round execution. It looks like a Bentley, and I give Genesis props for taking some risks with the GV80 and largely pulling it all off.