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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.

Finalists for 2014 Green Car of the Year announced

The list of finalists for the 2014 Green Car of the Year has been announced, and in a genuinely bizarre twist, there's only one hybrid and no electric vehicles among the five contestants, despite the arrival of cars like the BMW i3 and Tesla Model S. Taking the place of the EVs are a pair of diesels, repping a technology that last won a Green Car of the Year award in 2009, when the Audi A3 TDI took the title. No diesel was in the running for last year's award.
Naturally, both of the diesel finalists are fielded by the Germans - with BMW's 328d and Audi's A6 TDI getting the nod. In the case of the 3 Series, BMW installed a 2.0-liter, turbodiesel, capable of delivering 180 horsepower and 280 pound-feet of torque, while returning 45 miles per gallon on the highway. Audi and its larger, 3.0-liter, V6 turbodiesel produce quite a bit more grunt, with 240 hp and 428 lb-ft of grunt, but net a very impressive 38 mpg on the highway in the A6.
Finalists for this year's awards include two diesels, three gas-powered cars and a plug-in hybrid.

Next-gen Mazda3 teased in new video, should debut next month

Despite being one of the oldest vehicles in its class, the third-gen Mazda3 is still a favorite here at Autoblog. It's handsome, comfortable and one of the best-driving compacts around. While we had hoped to see a new Mazdaspeed3 hot hatch before this model expired, it seems that's not the case. Today, Mazda released a short teaser video showing a very brief glimpse of what appears to be a new hatchback. A caption says there's more to come next month. That leads us to believe we'll see the next Mazda3 in late November at or around the 2018 Los Angeles Auto Show. We don't know much about the new model, though it does look like the hatchback will carry over. That's no surprise given the Chevy Cruze, Honda Civic, Toyota Corolla, and Hyundai Elantra all offer five-door variants. You can include the hatch-only Volkswagen Golf on that list, too. The sedan is a given considering how popular the body style is in America. Expect the design to draw a lot from the Mazda Kai concept we saw last fall. It's harder to say what Mazda might stuff under the new 3's hood. Skyactiv-X would be great, but the compression-ignition gasoline engine likely won't be ready in time for the Mazda3's debut. That's a shame, as the engine shows a lot of promise and would be a good and unique feature for Mazda. Until the EV infrastructure improves and the associated costs go down, more efficient internal-combustion engines will still have a place in the market. Check out further info on the Skyactiv-X technology here, and stay tuned later next month for more news from Mazda. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Mazda Hatchback Sedan