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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.

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

The 2018 Mazda6 also snags top IIHS safety rating

The Insurance Institute for Highway Safety is one of two organizations that issues important safety ratings. To get to IIHS's Top Safety Pick rating level, the 2018 Mazda6 not only had to ace a bunch of difficult crash tests, it also must have headlights that meet a strict test as well. Its stablemate, the CX-5 crossover just received the even higher Top Safety Pick+ rating. Both must be equipped with optional adaptive headlights to achieve these ratings. The rationale is, many crashes happen at dusk or in the dark, and an outsized number on unlit roads. While almost all modern headlights outperform the dim, unfocused sealed beams of the past, IIHS says that government regulations aren't doing a good enough job of ensuring real-world performance. Adaptive headlights turn with the front wheels, helping out a lot in IIHS's tests on illumination in sharp and gradual curves. Related: How the 2018 Mazda6 stacks up to its competitors in the midsize sedan segment The Adaptive Front-Lighting System is only available in the Grand Touring Reserve and Signature trim levels, meaning that you'll have to upgrade to those fancy versions to get it. It'd be nice if Mazda allowed even lower-trim buyers to add this as a stand-alone option, but for now that's not how it works. Fancy, safer headlights or no, we love the new Mazda6, especially the turbocharged version. It's one of the most fun sedans around. And, according to IIHS, now one of the safest. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.