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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.

2014 Mazda3

The Cure For The Common Corolla
I hate the Toyota Corolla. I'm not talking about the new 2014 model; I can't yet judge a car I haven't driven. I'm referring to the current, old-as-dirt sedan. As an appliance, I get why people buy it, but it represents everything that I, as a car enthusiast, dislike. I don't like looking at it, I don't like sitting in it, and I really don't like driving it. There is absolutely no amount of emotion dialed into any part of the Corolla experience and every other vehicle in the segment is a far better choice. But still, somehow, Toyota sells 'em like hotcakes.
Thankfully, there are a lot of people who agree with me. And for folks like us, companies like Mazda exist. This small Japanese automaker places emotion and driver involvement as its top priorities when creating new products, and mostly - especially in recent years - the end results have been great. The new CX-5 crossover is a doll, to say nothing of the rakish and lovely new Mazda6 that launched earlier this year. And let's not forget the Miata...

2019 Mazda3 pricing starts at over $20,000, 2.5-liter engine standard

Pricing for the 2019 Mazda3 hatchback and sedan has been announced, and the base price has gone up by about $3,000. The new cheapest model is a front-drive, automatic Mazda3 sedan, and it starts at $21,895. The base Mazda3 now has the 186-horsepower 2.5-liter 4-cylinder as the standard engine, whereas the old model came with a 155-horsepower 2.0-liter engine and manual transmission as standard. Compared like-to-like, a 2018 Mazda3 in a similar spec would be slightly more expensive ($22,035) than the 2019 model. Opting for the hatchback on the base trim adds an additional level of equipment, with 18-inch wheels instead of 16-inch ones, Apple CarPlay and Android Auto, dual automatic climate control, leather wrapped steering wheel and shift knob. It also gets more safety equipment including blind-spot monitoring, automatic emergency braking, radar cruise control, automatic high-beams, automatic wipers and lane-departure warning with lane-keep assist. That all adds up to a $2,600 price increase over a base sedan. These features are available on the sedan for an extra $1,600 in the form of the Select package. For all other trims, opting for the hatchback adds $1,000. Higher trim levels add features such as better sound systems, real leather, a sunroof, heads-up display and power heated seats. In addition to pricing, Mazda revealed drivetrain options for the Mazda3, and they're not great for fans of manual transmissions. The Mazda3 hatchback with front-wheel drive and Premium trim is the only manual offering, and it starts at $28,395. On the upside, at least Mazda isn't relegating manual transmissions to the stripped out versions, but on the downside, there isn't a cheap manual option for those on a budget. And of course, if you want the sedan or all-wheel drive, the six-speed automatic is your only choice. Mazda has told us that it could match a manual with all-wheel drive, but clearly it doesn't see a market for that in the U.S. But like with the addition of the turbocharged Mazda6 and CX-5, if there's demand, such a combination could become available, but keep in mind the odds will still be slim. You can see the full breakdown of trims and prices below. The 2019 Mazda3 will be available in March.