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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.

Junkyard Gem: 1988 Mazda 323 GTX

Back in early 2007, when the late Davey G. Johnson got me my first job writing for an automotive publication (well, unless you count writing for the Year One catalogs back in the mid-1990s) and I took on this goofy pen name for real, I didn't quite grasp that any readers might be interested in the stuff I saw during my frequent junkyard trips. So, when I took my crappy Nikon Coolpix 2500 to the now-defunct Pick Your Part in Hayward, California, and saw a super-rare Mazda 323 GTX among all the Tercels and Rabbits in the IMPORTS section, I just took a few shots of this interesting car for my own enjoyment. These days, I'll take more than 100 photographs of a junkyard car of such great historical significance, editing them down to the best couple of dozen, but in March of 2007 I got just three of the 323 GTX. Robert Capa had his Magnificent Eleven at D-Day, and I've got the Magnificent Three of the GTX. Here they are. Any Mazda 323 of the immediate post-GLC era is a real junkyard rarity today, but Mazda sold very few of the all-wheel-drive, turbocharged homologation-special 323s over here during the 1988 and 1989 model years. A mere 1,243 of these cars made it to North American streets. Back in 2007, they weren't worth much (in fact, they still aren't incredibly valuable, if we go by Bring a Trailer real-world sale prices), and so this one showed up in El Pulpo's yard. These cars wouldn't be considered particularly fast by 21st-century standards, now that we've had decades of street-legal Mitsubishi Lancer Evos and Subaru WRXs flinging snow and mud around, and they tended to grind their powertrain components into a costly oil-and-metal-shaving slurry. But they were maniacally cool in the late 1980s, and that's enough. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. "Even with the sun and heavy rain, I made it here faster with my car!"

Airbag recall widens to include BMW, Chrysler, Ford and Toyota

The recall of faulty airbag inflators supplied by Takata has exploded today to grow to seven automakers. In most cases, only models in certain high-humidity regions were affected because the National Highway Traffic Safety Administration found in its investigation that moisture played a roll in determining whether there would be a problem. However, some companies opted for national campaigns. The exact number of affected models for these campaigns isn't yet known at this time.
BMW is recalling an undisclosed number of 325i, 325Xi, 330i and 330Xi models from the 2001 through 2005 model years and the 2001-2006 model year versions of the 325Ci and 330Ci for the driver side and passenger side inflators. Only vehicles currently registered in Florida, Puerto Rico, Hawaii and the US Virgin Islands are covered under this recall.
Neither Chrysler's filing with NHTSA nor its press release list the specific models affected, but a company spokesperson told Autoblog that at this time it only covers the driver and passenger side inflators for the 2006 Dodge Charger in Florida, Puerto Rico, Hawaii and the US Virgin Islands