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Mazda braces for record annual operating loss as car sales slump

TOKYO — Mazda Motor Corp forecast a record annual operating loss on Friday as the Japanese automaker continues to be pummeled by falling vehicle sales due to the COVID-19 pandemic. Japan's No. 5 automaker anticipates a 40 billion yen ($383.5 million) loss for the year to March, joining a growing number of automakers, including Ford and Nissan, which expect annual losses after the virus shuttered vehicle plants and kept customers away from car dealerships. Even before the coronavirus outbreak, the maker of the CX-5 SUV crossover and the Mazda3 sedan had been suffering from sliding profits for the past two years as slim new vehicle offerings has knocked sales in the United States and China, its two biggest markets. In the year to March, Mazda anticipates an 8% fall in global vehicle sales to 1.3 million units, its lowest in seven years, which will likely result in an operating loss. The automaker said it would forgo paying a dividend this year. Ahead of Friday's announcement, the company's shares fell 7%, as the consensus forecast in a Refinitiv poll of 19 analysts was for a 46 billion yen annual loss. Mazda posted an operating loss of 45.3 billion yen for the first quarter, its weakest in 11 years, due to a 31% drop in vehicle sales between April and June. In the April-June quarter, sales fell to 244,000 units, largely due to a drop in demand at home and in Europe. Sales in North America, Mazda's biggest market, fell 19% in the same period. But China was a bright spot, as sales rose 13% during the quarter as car demand has returned to the world's largest auto market, having recovered relatively quickly from the virus.

These are the cars most likely to be damaged in an accident

Data from Insurify shows which models have the most accident-prone drivers behind the wheel. It also shows the proportion of the drivers of said vehicles with an at-fault accident on record in the past seven years, based on Insurify’s analysis of over 4 million car insurance applications. For reference, the national average is 10.78%, and each of these vehiclesÂ’ drivers represent a statistically significant increase over that. Now, it would be easy to infer that these cars are dangerous, but such is not necessarily the case. Remember, drivers cause accidents, not cars. These just happen to be the cars that accident-prone drivers drive. YouÂ’ll notice that many are mainstream, affordable cars, often with decent crash ratings. Also keep in mind that vehicle accidents are up since the beginning of the pandemic, so no matter what you drive, please drive safely. 10. Hyundai Ioniq This affordable, electrified vehicle platform sneaks into this list with 14.45% of drivers with a recent at-fault accident on record. 9. Lexus CT Another hybrid, this Prius-powered Lexus beats the national average at 14.57%. 8. Toyota Prius V Yet another hybrid, the larger but discontinued member of the Prius family sees 14.72% of its drivers with recent accidents. 7. Mazda CX-3 The Mazda CX-3, which is discontinued for the 2022 model year, sees the accident-prone making up 14.9% of its drivers. 6. Infiniti Q60 The second and final luxury car on this list has more accident-prone drivers than average, at 14.93%. 5. Subaru Impreza The first of two Subarus on this list has 15.1% of drivers with recent accidents on record. 4. Hyundai Genesis Coupe The Genesis Coupe was only on the market for a brief span before it was discontinued and Genesis spun off into its own luxury brand. That said, it too beats the national average for accidents, at 15.29%. 3. Subaru WRX Despite its standard all-wheel drive, the boy-racer WRX has 15.44% of drivers with a prior accident in the last seven years. 2. Kia Stinger We love the Kia Stinger, and had great luck with our long-termer that graced the Autoblog garage for a year. That said, 15.75% of its drivers represent have a recent accident on record. 1. Scion FR-S This fun two-seater attracts the most accident prone drivers, with 15.87% with recent at-fault crashes. Related video:

Mazda recalls 109k Tribute models for rust issue

The Mazda Tribute is being hit with a similar recall as its platform-mate the Ford Escape underwent a few weeks ago. Mazda is recalling 109,000 Tributes from model years 2001 to 2004. On the trucks, the subframe can rust from road salt, potentially causing the lower control arm to detach. If this happens, a loss of steering control could occur.
Mazda is adding a reinforcement crossbrace for added strength on the affected models. The recall covers Tributes currently registered in or originally sold in 20 northern states and Washington, DC, where road salt is used.
The reinforcement braces aren't available yet to do the repair. Mazda will send a letter in May to owners of affected vehicles that will inform them of the problem, and a second letter telling them when the parts will be ready. Scroll down to read the full recall press release.