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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.

2019 Mazda CX-5 debuts with turbocharged engine and near-$40K price tag

We've seen a couple different leaks concerning the 2019 Mazda CX-5, but now Mazda finally has official word on what's coming our way. One exciting development is the addition of the 2.5-liter turbocharged four-cylinder engine on higher trim levels. It's great to see Mazda sharing that engine to other models after originally debuting in the larger CX-9. In the CX-5, it makes 250 horsepower and 310 pound-feet of torque on 93 octane. To get the boosted engine, you'll have to opt for one of the two new trim levels Mazda has added for 2019: Grand Touring Reserve or Signature. Of course, with higher trim levels and more powerful engines come higher prices. The Signature trim comes in at a whopping $37,885 including destination charges. For 2018, the highest trim level available was the Grand Touring, and that car costs $30,640. Mazda adds a bunch of new features for the expensive Signature trim, though. You'll get brown leather seats, real wood trim, a uniquely stitched leather steering wheel, 360-degree view camera, a frameless auto-dimming mirror, LED lighting throughout the interior and dark silver 19-inch wheels. These options are in addition to the new and still luxurious Grand Touring Reserve trim level. This trim has heated and cooled seats, a heated steering wheel and power folding mirrors as its highlights. For comparison, the Grand Touring Reserve with the turbocharged engine costs $35,865. Making the CX-5 more luxurious wasn't the only aim for 2019 — Mazda also gave it a new version of its G-Vectoring Control handling system. The updated G-Vectoring (now called G-Vectoring Control Plus) helps when the driver is unwinding the wheel by "adding a hit of braking to the outside front wheel," according to Mazda. This, in addition to some suspension refinements, are supposed to make for a smoother and better ride. Specifically, Mazda says it re-tuned the suspension to reduce friction and adjusted the steering geometry to achieve more natural feeling handling. Sweating over these small handling and feel things is why we typically end up liking the driving experience of Mazda vehicles. Mazda increased prices on the CX-5 across the board, too. The Sport trim is $1,600 more than before, with other trims following suit at similar increases. We'll see how the changes affect the sporty and now more expensive crossover when we get our hands on a 2019 model. For now, you can build them on Mazda's website, and Mazda says they'll be available sometime this fall.

Mazda considers expanding Takata recall nationwide

Vehicle recalls have come in force recently. Honda expanded its front driver's side Takata airbag inflator recall nationwide to cover an estimated 5.4-million vehicles, and the National Highway Traffic Safety Administration added 19 notices to its database covering safety campaigns dating back to October. It looks like there could be one more to add to the list soon because Mazda is considering a possible nationwide expansion of its own inflator repairs. A company spokesperson tells Reuters that there is no decision yet when to actually make this nationwide expansion of the driver's side inflator recall official, and the company isn't sure how many vehicles may be affected. Mazda just expanded the scope of its Takata inflator recalls to additional regions earlier in December. The move took its total number of units in need of repair from around 65,000 under the earlier NHTSA estimate to 86,773, according to the company. So far, the automaker's US campaign has included the 2003-2007 Mazda6, 2006-2007 MazdaSpeed6, 2004-2008 Mazda RX-8, 2004-2005 MPV and 2004 B-Series pickup.