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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 MX-5 Miata to spawn coupe, Mazda6 to get quick successive updates

Despite the PRHT's availability, some are still yearning for a proper fixed-head coupe.
We are just days away from the official unveiling of the next-generation 2016 Mazda MX-5 Miata on September 3, and it's fair to say that the mouths of enthusiasts are watering in anticipation for the latest version of this iconic roadster. Hard facts about the new droptop aren't easy to find, and in the absence of further disclosure from Mazda officials, the rumormill is in full swing, including word that a long-awaited hardtop coupe model will figure into the new generation's plans.

Mazda engineer wants new rotary to be turbocharged

Hope springs eternal for Mazda to revive the high-revving Wankel engine for a new sports car, and the company keeps feeding that thirst with hints that it could happen. To make the possibility even more tantalizing, Mazda drivetrain and powertrain assistant manager Tetsushi Marutani tells Motoring that he wants the updated mill to pack a turbocharger. "Personally, I think that a rotary with some turbo or compressor would be good," Marutani said to Motoring. "Because a rotary, in my opinion, they require more [torque at] low speed, low down torque. So if we have some small compressor or turbo it would help." Mazda hasn't sold a rotary-powered model since the RX-8 and hasn't had a turbocharged one since the third-generation RX-7. However, the recent RX-Vision concept (above) at least hinted at a possible Wankel revival, and Mazda officials confirmed that its engineers continued to develop the engine since the RX-8's demise. The RX-Vision used a next-gen rotary called the Skyactiv-R, but Mazda didn't officially confirm any details about it. Rumors suggested the engine had a two-rotor layout with a total displacement of 1.6 liters. A two-stage electric turbo and hybrid powertrain would allegedly boost the total output of around 450 horsepower. The electric assistance could also counter the Wankel's lack of torque at low revs and poor fuel economy. Those rumored specs sound fantastic, but we still take the rotary's return with a grain of salt. Mazda CEO Masamichi Kogai is adamant that it's not worth the company's limited resources to develop a niche sports coupe instead of better selling vehicles. Related Video: