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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.

Driving classic Mazdas to experience the weird and wonderful rotary's triumph

AUGSBURG, Germany — Everything weird and wonderful about Mazda's relationship with the Wankel rotary engine is embodied in the delightful 110S Cosmo Sport of 1967. Just shy of 1,200 were built and, for most of its life, it remained a Japanese curio. Driving one is a rare privilege, and yet here I am, leading a convoy of owners through Bavaria away from a private museum holding the most extensive collection of Mazdas outside of Japan. Created by local franchise holder Walter Frey, what started out as a business relationship in the 1970s has blossomed into a lifetime love affair. Whether the residents of Augsburg are quite so enamoured is another question. As I leave the museum I pass a sign proclaiming my entry into an "umwelt zone" for low-emissions vehicles. The oil-tinged plume of smoke in my wake rather makes a mockery and underlines one reason there are no rotary engines in the current Mazda product range. Created by a German but perfected by the Japanese, it seems appropriate to celebrate the association with the Wankel engine here. Mazda may have gone on to sell nearly 2 million rotary-engined cars to the world — the U.S. included — but 50 years ago it brought two Cosmos to the Nurburgring and entered them into the grueling Marathon de la Route as a proof of concept. After 84 hours of continuous running and a fourth-place overall finish, Mazda had demonstrated to the world a rotary could stay the distance. I have a slightly less grueling schedule but look forward to following the instructions to rev the hell out of the Cosmo to clear the smoke out of its system. Those following me will certainly be hoping this does the trick. A thirst for oil as well as gasoline isn't the only rotary trait. The two chambers of its motor displace 491 cc apiece, equivalent to about 2.0 liters in a regular reciprocating design. In this second-series car, it delivers around 128 horsepower, which drives the rear wheels through the transmission's five gears. There doesn't seem to be a whole lot of progress in any of them, truth be told, the characteristic lack of torque making for more noise than meaningful acceleration. It's a small car and weighs just more than 2,000 pounds, with a power-to-weight ratio not far off that of an original NA Miata. But it's one for carrying speed, not building it. The wood-rimmed Nardi wheel is one piece of luxury in an otherwise functional, vinyl-trimmed cabin, and through it the Cosmo has a nice blend of stability and agility.

Cars most likely to be involved in accidents

Data from Insurify shows which models have the most accident-prone drivers behind the wheel. It also shows the proportion of the drivers of said vehicles with an at-fault accident on record in the past seven years, based on Insurify’s analysis of over 4 million car insurance applications. For reference, the national average is 10.78%, and each of these vehiclesÂ’ drivers represent a statistically significant increase over that. Now, it would be easy to infer that these cars are dangerous, but such is not necessarily the case. Remember, drivers cause accidents, not cars. These just happen to be the cars that accident-prone drivers drive. YouÂ’ll notice that many are mainstream, affordable cars, often with decent crash ratings. Also keep in mind that vehicle accidents are up since the beginning of the pandemic, so no matter what you drive, please drive safely. 10. Hyundai Ioniq This affordable, electrified vehicle platform sneaks into this list with 14.45% of drivers with a recent at-fault accident on record. 9. Lexus CT Another hybrid, this Prius-powered Lexus beats the national average at 14.57%. 8. Toyota Prius V Yet another hybrid, the larger but discontinued member of the Prius family sees 14.72% of its drivers with recent accidents. 7. Mazda CX-3 The Mazda CX-3, which is discontinued for the 2022 model year, sees the accident-prone making up 14.9% of its drivers. 6. Infiniti Q60 The second and final luxury car on this list has more accident-prone drivers than average, at 14.93%. 5. Subaru Impreza The first of two Subarus on this list has 15.1% of drivers with recent accidents on record. 4. Hyundai Genesis Coupe The Genesis Coupe was only on the market for a brief span before it was discontinued and Genesis spun off into its own luxury brand. That said, it too beats the national average for accidents, at 15.29%. 3. Subaru WRX Despite its standard all-wheel drive, the boy-racer WRX has 15.44% of drivers with a prior accident in the last seven years. 2. Kia Stinger We love the Kia Stinger, and had great luck with our long-termer that graced the Autoblog garage for a year. That said, 15.75% of its drivers represent have a recent accident on record. 1. Scion FR-S This fun two-seater attracts the most accident prone drivers, with 15.87% with recent at-fault crashes. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.