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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.

Mazda6 Skyactiv-D Racecar ready to bring diesel to Grand-Am

It may not be quite as radical as some of the company's past rotary racers, but the new Mazda6 Skyactiv-D racecar does have a notable powertrain underhood: the automaker's brand-new clean diesel four-cylinder engine.
Three of these new diesel-powered Mazda6 racers will take to the track in the Grand-Am GX class of the upcoming 2013 Rolex 24 at Daytona on January 26, with five drivers on each team. The car you see above, number 70, is sponsored by Mazda's longtime motorsports partner, SpeedSource.
Check out our full gallery of high-res images live from the 2013 Detroit Auto Show above and feel free to read through the related press release from Mazda below.

2016 Scion iA shows its face, for better or worse, in New York [w/video]

We have a theory that, among auto designers, there's something resembling Stockholm Syndrome. Designers spend so many hours looking at a single product that, after awhile, they can't help but fall in love with it, regardless of how bad it may look to everyone else. That might explain the appearance of the Scion iA, which while largely similar to the handsome Mazda2, replaces that car's attractive five-pointed grille with what could be described as a gaping maw. Fortunately, it's only the Scion grille that really causes any offense. The parts of the iA that have been left to Mazda designers are, as we said, rather handsome. That includes both the attractive rear and the Kodo-derived lines found in the tiny sedan's profile. The cabin, meanwhile, is well outfitted with standard equipment, including a seven-inch touchscreen display. Plastic is the dominant material, although the overall layout is logical and mostly attractive. Have a look at our live gallery of images of Scion's first-ever four-door sedan. Sports Sedan that Shouts Success All-New 2016 Scion iA Rolls Into New York With a Trunk - Brand's first-ever sedan with dramatically sporty look and agile moves - Estimated MSRP in the $16,000-range for well-equipped mono-spec model • High-spirited 1.5-liter engine; estimated 42 MPG highway - Choice of 6-speed stick shift or 6-speed automatic - Standard Low-speed Pre-collision safety system - Roomy cabin with premium amenities - 7-inch multimedia system with voice recognition NEW YORK, March 31, 2015 – Scion is expanding its line-up in more ways than one. In addition to adding a new vehicle to its stable, it's also adding its first-ever sedan, the remarkably sporty, yet very affordable, 2016 Scion iA. The Scion iA sedan joins the all-new 2016 Scion iM hatchback for a one-two punch in the subcompact and compact segments. The new sans-hatch Scion will arrive in dealerships this fall for an estimated MSRP in the $16,000-range. That's for a mono-spec model equipped with standard Low-speed Pre-collision safety system and 7-inch multi-media system with voice activation. Because Scion has a no hassle, no haggle Pure Price, customers walk out the door with the same price they saw posted in the dealership. "Dramatic" could be an understatement when describing the visual impact of the 2016 Scion iA. Beneath the daringly curved sheetmetal lies a tight, agile machine that re-defines "entry level." Call the design "class above," a term that applies throughout the car.