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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.

Mazda CEO closes door on talk of RX sports car revival

Some rumors in the auto industry simply refuse to die. Over the last decade, a few of the strongest have focused on Japan. A few years ago, we could have explained away the constant whispering over a new Toyota Supra, Acura NSX or Mazda RX-7 as nostalgia for Japan's golden era of performance. Today, though is different.
We already have the Nissan GT-R, and, thanks to the Toyota FT-1 Concept, a Supra successor finally appears to be on the way. Acura will someday, allegedly, deliver on its promise to put the NSX on sale. So where does that leave the third member of the Japanese performance trio mentioned above? Well, um, it still isn't happening.
"We don't have that kind of vehicle in our future product plan," Mazda CEO Masamichi Kogai told Automotive News when asked about a successor to the rotary-powered RX line. "If you increase the number of segments, then the resources we can allocate to each will decline and that will prevent us from developing truly good products."

Mazda engineers say current Skyactiv-X might not suit U.S. market

We've been watching Mazda roll out the 2.0-liter four-cylinder Skyactiv-X engine in Japan and Europe, waiting our turn. When European authorities released fuel economy information for the high-tech motor last June, we wrote, "Mazda has yet to make an official decision on timing for the U.S market's launch of the engine." Automotive News spoke to Mazda engineers in charge of the powertrain, and based on the answers AN got, the question might not be when we get the Skyactiv-X, but if. Seems that the automaker now isn't certain whether the cost/benefit analysis for the U.S. market favors the engine, and there's concern the 2.0-liter might not be powerful enough for us with its current output of 178 horsepower and 186 pound-feet of torque. At the moment, our Mazda3 is served only with a 2.5-liter Skyactiv-G engine producing 186 hp and 186 lb-ft., not too far ahead of the Skyactiv-X. The Skyactiv-X would return better fuel economy, but requires a noteworthy price premium over the Skyactiv-G. The Truth About Cars says the Skyactiv-X has become the top-seller in the Japanese-market Mazda3, even though it costs 27% more than the base, 2.0-liter Skyactiv-G for a 9% improvement in fuel economy. Mazda's not sure U.S. customers would care much for that kind of math. Engineer Yoshiaki Yamane told AN, "Maybe U.S. customers require more power, because fuel economy is not the top requirement." There isn't much Mazda can do about the tech-heavy engine's cost, since pricey equipment like the high-pressure fuel injection and combustion systems, supercharger, three-way catalyst, and 24-volt mild-hybrid system provide the mileage gains that are the engine's reason for being. Instead, engineers are researching the system's effects with larger displacements. If it works as desired, a larger and more powerful Skyactiv-X could come to the U.S. on the large-vehicle architecture Mazda's developing for new sedans to arrive in a couple of years. That's the hope, at least. Remember, Mazda's Skyactiv-D was meant to go into the 2014 Mazda6, but didn't because Mazda said it needed more time to find "the right balance between fuel economy and Mazda-appropriate driving performance." After five years of "Soon," the engine showed up on the 2019 CX-5 that starts at $42,045. Based on that template, it could be awhile before we know how the U.S.-market Skyactiv-X story ends. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences.