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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 development chief discusses future rotary platform

The switch can again be flicked from "The Rotary Engine is Doomed" to "The Rotary Engine Lives!" Mazda is re-tooling the once nearly forgotten rotary to work as a range extender for hybrid vehicles, with a chance for it to do even more than that. The latest information sounds rather promising for those still holding out a candle for the rotary. Mazda's powertrain development chief, Ichiro Hirose discussed future rotary plans with the Australian Drive at the CX-30 crossover's launch. Hirose told Australia's Drive that Mazda is currently working with a very flexible and efficient rotary hybrid platform that doesn't necessarily come with the heavy emissions and fuel consumption baggage the rotary engine has earlier been saddled with. Hirose calls the rotary-based solution "XEV," referring to its adaptability. "It has the generator function and also it can be used to provide the drive force to give you traction. [...] Because the rotary engine is compact in terms of its packaging size [and] if we should choose to do so we can have the generator, rotary engine and electric motor all in one [driveline] because of the small packaging." The result is an electrified platform that could be made to work as a mild hybrid, series hybrid or a battery electric vehicle with a rotary range extender (if given a plug), depending of the required implementation. It's as if Mazda had a slider to adjust the balance of using a rotary engine and using electric power, to make the platform more of a jack-of-all-trades. Hirose explained: "If you reduce the other way around it could be a pure battery-electric, using really the rotary engine as a range extender and, according to the balance, you can even provide something akin to the series hybrid that is providing the drive force. [...] So, we are looking at a wider coverage and scope. Based on this architecture it allows us to do that, to explore the huge range of applications we can have with the rotary." The platform would also be flexible when it comes to meeting various stringent emissions standards. To be able to sell XEV-based vehicles globally would mean introducing a certain setup for one region and one for another, keeping in mind when the rotary power would kick in and how. While Hirose keeps the question open whether these vehicles would make it for sale in the United States, he says Mazda would be able to make them pass U.S regulations. "I'm just saying that — theoretically — if we were to introduce it in the U.S.

2023 Honda Pilot and the promise and pitfalls of PHEVs | Autoblog Podcast #766

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Associate Editor Byron Hurd for a chat about the new 2023 Honda Pilot and its beefed-up TrailSport model. After that, we get a winter-weather long-term update on the BMW 330e care of Greg. Then, it's on to news. The big headlines this week were the brand-new Mazda CX-90 crossover and word that Genesis plans to build its outrageous (and expensive) X convertible concept. Is the world ready for a Bentley fighter from Korea? Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #766 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we're driving 2023 Honda Pilot 2022 BMW 330e xDrive  News 2024 Mazda CX-90 three-row SUV revealed, with your choice of inline-6 or PHEV The ravishing Genesis X Convertible Concept is going into production Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.