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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 Hazumi Concept shows up ahead of Geneva

Last week, Mazda officially teased its Geneva-bound Hazumi concept, showing little more than an aggressive headlamp design. But now, thanks to the magic of the Internet, another rendering of the Hazumi has appeared on the web, and, well, it's totes adorbs.
In Mazda's original release from last week, we were told that the name "Hazumi" means "spring up" or "bound" in Japanese, and is "particularly well-suited to a small car that appears to be bursting with energy." And now that we're getting a nearly full glimpse of the thing, we absolutely have to agree. The company's Kodo design language offers aggressive style in a cute little shape, and the usual raft of concept car-spec treatments (no mirrors, huge wheels, etc.) make it look even more comical and delightful.
Indeed, the Hazumi is understood to preview the next Mazda2 subcompact, and if this concept car points the way forward for Mazda's tiniest hatch, consider us totally geeked. Mazda is also set to debut its new 1.5-liter Skyactiv-D diesel engine at the Geneva Motor Show next week, and while the company hasn't confirmed if that powerplant will make its way into the next Mazda2, it sure makes sense, at least overseas. Stay tuned.

Why the 38-mpg 2014 Mazda6 is on dealer lots, but you can't drive it

If you stop by your local Mazda dealer this month, with any luck, you'll see the much-anticipated 2014 Mazda6 parked in the showroom - there are already a few hundred of them out there. That's quite an accomplishment in light of the fact that it isn't even calendar year 2013. The move is part of a strategic decision by the Japanese automaker, which is hoping to capitalize on holiday showroom traffic. (The last five days of the year are typically among the busiest dealer days all year).
If you happen to spy the rakish sedan, you may notice something missing - a window sticker. That's because Mazda (like other automakers) can't legally display the Monroney on a 2014 model year vehicle until January 1, 2013. According to Autoblog sources, Mazda dealers are legally prohibited from letting you test drive until the start of 2013, so it's more of a sneak preview than anything else. Even so, we reckon shoppers will be impressed when they finally get a look at those window stickers - Mazda hasn't announced fuel economy figures yet, but Autoblog has learned that the 2014 model will carry a pair of impressive numbers: EPA estimates of 27 miles per gallon in the city and 38 mpg on the highway using regular gas.
Mazda dealers are legally prohibited from letting you test drive until the start of 2013, so it's more of a sneak preview than anything else.