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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's next-gen SkyActiv engines will drop spark plugs in favor of high compression

Homogeneous charge compression ignition, or HCCI, is the black art of internal combustion engines that aims to produce diesel-like fuel efficiency for the cost of gasoline. Although some of its competitors have developed and subsequently given up on the tech, Mazda confirmed that the next-generation of SkyActiv engines will employ HCCI technology, improving fuel economy by 30 percent and at the same time reducing exhaust emissions. According to Nikkei, a new SkyActiv family of engines is set to debut under the hood of the next-gen Mazda3 sometime in 2018 before making its way into other vehicles. In simple terms, an engine that uses HCCI burns the air/fuel mix using pressure instead of with spark plugs, just like a diesel. At 14:1, Mazda's gasoline engines already have some of the highest compression ratios out there, but a move to HCCI means cranking up the compression to 18:1. While the tech sounds relatively straightforward, using HCCI means dealing with a number of side issues. It's one of those "on paper" ideas that compounds problems when put into practice. Heat, revs, and fuel must all be carefully managed as gasoline doesn't burn the same way as diesel. Mazda is mum on details, but the automaker seems confident that the issues have been sorted. If the new engines do indeed make it to market with HCCI, Mazda will have out-engineered GM, Daimler, and Hyundai, all of which have tried and failed to develop HCCI engines in a cost-effective package. With the market moving towards electrification, it's interesting to see Mazda still focusing so heavily on traditional internal combustion gasoline engines. It's an indication of where they see the market heading for the next few years. Although the automaker has been hesitant to move forward with hybrid and electric powertrains, Nikkei also reports that Mazda will begin mass production of EVs in 2019. Related Video:

Best compact SUVs of 2022

Compact SUVs are now the go-to choice for family transportation. Actually, considering how popular they are, they have clearly moved beyond only family duty. With such popularity, though, comes an awful lot of competitors, and it can be difficult to figure out which one might be the best compact SUV for you.  It's important to note that by "compact SUV" we're talking about a specific segment. As we describe in our more comprehensive "Best small SUVs" list, there are also subcompact SUVs that vary widely in size amongst themselves, but are clearly smaller than the SUVs below. Frankly, today's segment of compact SUVs isn't exactly compact — some have more cargo space than vehicles that are considered midsize based on their exterior dimensions. They've all grown considerably over the years. While many lists out there just rattle off every vehicle available in a segment, we thought we'd be a bit more helpful and curate your shopping a bit with the top-recommended choices reviewed by Autoblog. We've included both mainstream and compact luxury SUV choices. Best compact SUVs of 2023 and 2024 2024 Honda CR-V Why it stands out: Best-in-class space; excellent hybrid powertrain; sharp interior style; Honda dependabilityCould be better: No lower-price base trim levels; no sporty or off-road niche models; no plug-in hybrid Read our full 2024 Honda CR-V Review Consider the CR-V the baseline for any compact SUV search, and look extra closely at the superb CR-V Hybrid option. Objectively speaking, it's tough to beat due to its massive cargo capacity, voluminous back seat, strong-yet-efficient engines, well-balanced driving dynamics, competitive pricing and features,  and well-regarded reliability. It's easy to see why it continues to be such a best-seller: for the vast majority of compact SUV buyers, and especially families, it checks every box. That's been the case for many years now, however. The all-new 2023 Honda CR-V changes things up by adding a bit more style and character, particularly in terms of its interior design and how surprisingly enjoyable the Sport and Sport Touring hybrid trim levels are to drive.