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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 returns to rotary with RX-Vision Concept, crowd goes wild

Rotary! Forget everything for a second. Ignore the sleek styling, formed-by-wind sheetmetal, outrageously rear-drive proportions, and general ridiculousness of the sideview mirrors. And please be so kind as to ignore the poorly lit photos here – Mazda has a thing for drama. Concentrate instead on one fantastic phrase from the concept car press release: "next-generation Skyactiv-R rotary engine." The crowd here in Tokyo was downright frothing to get a look at the new concept car – hoping to catch a glimpse of the first evolutionary stage for a RX-9 sports car. The critical factor in that effort is of course the rotary engine. Mazda says that, while production of the powerplant is "on hold," the company has "never stopped research and development towards the rotary engine." The fact that the company has named the new engine gives us great hope that it exists in reality, and will be available for sale at some future date. The devil is in the details though, and there are precious few available at the Mazda stand. Other than a brief history lesson about Mazda's racing heritage, and fuzzy-vision talk about the future, we only have expectations to feed on. Oh, there's also a tiny press release, below. Related Video: HIROSHIMA, Japan—Mazda Motor Corporation unveiled the rotary-powered Mazda RX-VISION sports car concept at the Tokyo Motor Show*1 today. The rotary engine is a symbol of the company's "never-stop-challenging" spirit. RX-VISION represents a vision of the future that Mazda hopes to one day make into reality; a front-engine, rear-wheel drive sports car with exquisite, KODO design-based proportions only Mazda could envision, and powered by the next-generation SKYACTIV-R rotary engine. Rotary engines feature a unique construction, generating power through the rotational motion of a triangular rotor. Overcoming numerous technical difficulties, Mazda succeeded in commercializing the rotary engine, fitting it in the Cosmo Sport (known as Mazda 110S overseas) in 1967. As the only automaker to mass-produce the rotary engine, Mazda continued efforts to improve power output, fuel economy and durability, and in 1991 took overall victory at 24 Hours of Le Mans with a rotary engine-powered race car. Over the years, the rotary engine has come to symbolize Mazda's creativity and tireless endeavor in the face of difficult challenges. While mass production is currently on hold, Mazda has never stopped research and development efforts towards the rotary engine.

Mazda recalls 374,500 vehicles because of Takata inflators

The Basics: Mazda will recall 374,519 examples of the 2003-2008 Mazda6 manufactured from May 29, 2002, to May 5, 2008; the 2006-2007 Mazdaspeed6 built from July 1, 2005, to June 29, 2007; and the 2004 RX-8 made from June 25, 2003, to June 30, 2003. The Problem: These vehicles contain front passenger airbag inflators from Takata that could rupture in a crash. If this happens, it could spray metal shrapnel at an occupant, which could seriously injure or even kill the person. Injuries/Deaths: The report from the National Highway Traffic Safety Administration didn't mention injuries or deaths, but Autoblog reached out to Mazda for confirmation. Takata's rupturing inflators allegedly have links to nine deaths globally and around 100 injuries. The Fix: Mazda dealers will replace the passenger side airbag with a new one. If You Own One: Mazda has not said when the replacements for these vehicles will begin. Experts believe that prolonged exposure to high humidity can cause the inflators' ammonium nitrate propellant to ignite too quickly in an accident. More Information: This recall is a nationwide expansion of Mazda's passenger's side airbag recall, which was previously limited to high-humidity regions. The population now includes 310,592 additional examples of the Mazda6, Mazda spokesperson Tamara Mlynarczyk tells Autoblog. The company discovered this new issue after Takata tested an inflator taken from a Mazda6, and it ruptured, according to NHTSA documents (PDF). The company already had a national safety campaign to fix the driver's side airbags in these vehicles. Related Video: RECALL Subject : Passenger Air Bag Inflator May Rupture Report Receipt Date: DEC 23, 2015 NHTSA Campaign Number: 15V869000 Component(s): AIR BAGS Potential Number of Units Affected: 374,519 All Products Associated with this Recall Vehicle Make Model Model Year(s) MAZDA MAZDA6 2003-2008 MAZDA MAZDASPEED6 2006-2007 MAZDA RX-8 2004 Details close Manufacturer: Mazda North American Operations SUMMARY: Mazda North American Operations (Mazda) is recalling certain model year 2003-2008 Mazda6 vehicles manufactured May 29, 2002, to May 5, 2008, 2006-2007 Mazdaspeed6 vehicles manufactured July 1, 2005, to June 29, 2007, and a limited production of model year 2004 RX-8 vehicles manufactured June 25, 2003, to June 30, 2003. The inflators in the front passenger air bags are susceptible to rupture in the event of a crash necessitating the deployment of the front passenger air bag.