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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.

2021 Mazda3 2.5 Turbo starts at over $30,000

Following its introduction a few weeks ago, we now have official pricing for the 2021 Mazda3 2.5 Turbo. The most affordable version is the sedan starting at $30,845. The hatchback adds $1,000 for a total of $31,845. The full list of standard features hasn't been announced, but either model comes standard with all-wheel-drive, an automatic transmission and the turbocharged 2.5-liter four-cylinder that makes 250 horsepower and 320 pound-feet of torque on premium fuel. A higher Premium Plus trim is available for the turbo Mazda3, too. It starts at $33,395 for the sedan and $34,695 for the hatchback. One of the key features added to the Premium Plus is an "Aero Kit" that adds front and rear spoilers to the hatchback, and a rear spoiler to the sedan. An enhanced version with sideskirts and a rear diffuser is also available for an additional $1,075. The complete kit is available as an option on the base turbo hatchback for $1,900. The trim also adds leather upholstery, navigation, low-speed lane-keep assist called "Traffic Jam Assist," parking sensors and rear automatic emergency braking. Furthermore, you can add 18-inch BBS forged wheels to not just the turbo 3, but any model, and a full set will cost you $3,675.80. At the other end of the spectrum is the revived Mazda3 with a naturally aspirated 2.0-liter engine. It makes just 155 horsepower and 150 pound-feet of torque and is only available on the sedan with an automatic transmission and front-wheel-drive. It starts $21,445, bringing the base price for the small Mazda down by $1,000. The base price for the naturally aspirated 2.5-liter sedan still starts at $22,445. One final note, the Mazda3 2.5 S with Premium Package remains the only way to get a manual transmission in the Mazda3. It starts at $28,795. You can see the full breakdown of pricing below. Mazda3 2.0 Sedan FWD: $21,445 Mazda3 2.5 S Sedan FWD: $22,445 Hatchback FWD: $23,445 Mazda3 2.5 S Select Sedan FWD: $23,645 Hatchback FWD: $24,645 Sedan AWD: $25,045 Hatchback AWD: $26,045 Mazda3 2.5 S Preferred Sedan FWD: $25,295 Hatchback FWD: $26,295 Sedan AWD: $26,695 Hatchback AWD: $27,695 Mazda3 2.5 S Premium Sedan FWD: $27,795 Hatchback FWD: $28,795 Sedan AWD: $29,195 Hatchback AWD: $30,195 Mazda3 2.5 Turbo Sedan: $30,845 Hatchback: $31,845 Mazda3 2.5 Turbo Premium Plus Sedan: $33,395 Hatchback: $34,695 Related Video:    

Mazda and Fiat finalize deal for Alfa roadster, next-gen MX-5 Miata

Although a little bit later than expected, Mazda and Fiat have signed a final agreement that will bring a next-generation MX-5 Miata to the Japanese automaker and a new roadster to Alfa Romeo. When the proposed arrangement was announced back in May, the two automakers had hoped to seal the deal last year, but it doesn't appear that the production timeline for these cars has slipped any, with both expected to start rolling off assembly lines in 2015.
Other than a shared chassis with a rear-wheel-drive layout, it sounds like the two cars are still planned to be distinct in their own ways from their styling right down to their engines. Mazda will produce both cars at a plant in Hiroshima, Japan, but it isn't clear what role each automaker will play in the cars' developmental process. The big question, of course, is what clever portmanteau name we can come up with, like Toyobaru. Mazda Romeo is the easy choice, but Alfazda might roll off the tongue a little better.
Scroll down for a brief press release from both automakers.