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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.

2019 Mazda3 Sedan Drivers' Notes Review | Moving on up

The Mazda3 enters its fourth iteration for 2019, replacing one of our favorite compacts on the market. As such, expectations were high for the new model. Like before, the Mazda3 is available as both a sedan and hatchback, though the big news for the new model is the available all-wheel drive system, a rarity for the class and and a feature more and more people are looking for in a car these days. At launch, power comes solely from a 2.5-liter naturally aspirated inline-four, though Mazda plans to offer additional powertrains down the line. Competitors include the Honda Civic, Toyota Corolla, Subaru Impreza, Hyundai Elantra and Kia Forte. Our tester was a well-equipped Mazda3 Premium front-wheel-drive sedan. Standard features include 18-inch wheels, LED lighting, a power driver's seat, leather seating and trim, keyless entry and ignition, dual-zone climate control, an 8.8-inch infotainment system, Bose audio, blind-spot monitoring, rear cross-traffic alert and adaptive cruise control. The only added cost to the Premium Package is $595 for the paint. All in, our tester came out to $27,990. Editor-in-Chief Greg Migliore: The Mazda3 is the sportiest in the segment and, as far as I'm concerned, it's dead-even with the Honda Civic for the top spot in the looks department. The steering, brakes and suspension all feel dialed-in and quick. Many compacts are sedate. The 3 makes you want to track it. The suspension is stiff enough that non-enthusiasts might prefer something else, though it's not abusive. The naturally aspirated four provides just enough getup. Mazda is good at the minimalistic approach. Tune a car well, make it look sporty, and don't try to overcompensate with horsepower. This thing looks great inside and out. For the price, you can't beat it. The cabin has the appearance and feel of a premium sedan, with pleasing materials and an enveloping cockpit. With a creased hood and huge, blacked-out grille, the 3's front end has a contemporary style with old-school panache. I might like the hatch better because it's a rarer body style. Still, this sedan is a well-rounded, sporty execution and a great value. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Associate Editor Joel Stocksdale: Since its reveal at the Los Angeles Auto Show, the 2019 Mazda3 has been my most anticipated car of the year, as well as the one I've been most worried about.

Mazda 767B crashes during Goodwood, suffers heavy damage [UPDATE]

Update: Autoblog has learned that the Mazda 767B wrecked at Goodwood was being driven by Seniji Hoshino. He was not seriously harmed and was able to walk away from the crash. Hoshino's car was chassis 001 and scored a win in the GTP class of the 1989 24 Hours of Le Mans. A Mazda 767B Group C racer suffered a crash the Goodwood Festival of Speed that tore off the rear wing and did some fairly serious looking front end damage. According to Jalopnik, the racer was taking a timed run during the event's famous hillclimb when it went into the hay bales. The driver is reportedly okay, though. We've reached out to Mazda and Goodwood sources to identify the pilot in question, with no luck so far. Look for an updated post later in the day if we get any answers on that front. Images of the sad wreck seem to be populating on Twitter feeds as we write this. The racing Mazda clearly suffered a big hit today; painful to look at even after the fact. But we're not sure if the damage is beyond the abilities of skilled factory workmen to fix. Our collective fingers are crossed. Mazda has a major presence at Goodwood this year, including the event's art installation. Among all of its vehicles, there are two privately owned 767Bs. These racers have a four-rotor engine, said to be good for more than 600 horsepower in racing trim, and are predecessors to the famous 787B that scored an overall win in the 1991 24 Hours of Le Mans. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.