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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 goes Head 2 Head with Subaru BRZ

It's a battle that's been in the making for some time now: the Subaru BRZ versus the Mazda MX-5 Miata. And now that the new Miata has arrived – and in Club spec to boot – that's exactly what Motor Trend has lined up for its latest episode of Head 2 Head. Now before you go screaming that one's a coupe and the other a convertible, take a few commonalities into account. Roofs aside, both feature a 2.0-liter four mounted up front, driving the rear wheels through a six-speed manual transmission. Both are made by Japanese automakers and cost around $25-30k, give or take. Both produce around the same amount of torque, and while the Subaru may be more powerful, the Mazda's considerably lighter. To create a more even contest, then, you'd have to line a BRZ up against a Scion FR-S, or the MX-5 against the upcoming Fiat version of the same. Of course, being that close on paper doesn't mean that it's a draw. One has to come out on top. And after taking both along country roads and the Streets of Willow racing circuit, our friends at MT have picked one over the other. You'll want to watch the 22-minute video above (or at least skip ahead to the end) to see which came out on top, but if you're as enthused by a purist driver's car as we are, you'll enjoy every minute of it. News Source: Motor Trend via YouTube Mazda Subaru Convertible Coupe Economy Cars Performance Videos motor trend mazda mx-5 head 2 head

2014 Mazda3 2.0L Hatchback officially rated at 40 mpg highway

The Environmental Protection Agency has spoken, and these are the miles per gallon numbers it has officially bestowed on the 2014 five-door Mazda3 hatchback with the SkyActiv-G 2.0-liter engine: 29 city, 40 highway, 33 combined when fitted with the six-speed manual; 30 city, 40 highway and 33 combined when equipped with the six-speed automatic.
Those numbers exactly match the fuel economy targets that Mazda had set for the car when optioned with the 2.0-liter Skyactiv-G with 155 horsepower and 150 pound-feet of torque. For comparison to other cars in the segment, the EPA numbers for the 2013 Honda Civic sedan are 28 city, 39 highway, 32 combined when its 140-hp, 1.8-liter four-cylinder is paired with the five-speed automatic. The Hyundai Elantra GT gets 27 city, 37 highway and 30 combined according to the EPA when its 148-hp, 1.8-liter four-cylinder is paired with either a six-speed manual or six-speed automatic transmission. The numbers for the 2014 Ford Focus aren't out yet.