1991 Mazda Miata Custom Turbo on 2040-cars

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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 builds 1 millionth MX-5

Mazda produced its 1 millionth MX-5 Miata on April 22. Known alternately as the Miata, the Mazda Roadster, or the Eunos Roadster, the MX-5 has long held the record as the best-selling open-top two-seat sports car. It topped half a million at the turn of the millennium, and hit 800,000 less than a decade ago. The MX-5 recently entered its fourth generation over 27 years, which only promises to drive that record number higher. While it's not one of the most prolific automobiles in history – Ford has made over 34 million F-Series pickups and Toyota produced over 40 million Corollas – the Miata stands as a rather notable exception among niche performance vehicles. Related Video: Mazda Produces One-Millionth Mazda MX-5 HIROSHIMA, Japan—Mazda Motor Corporation announced today that production of the Mazda MX-5 (Mazda Roadster in Japan) reached one million units on April 22, 2016. The milestone figure was achieved over 27 years, with mass-production of the MX-5 starting at Ujina Plant No. 1 in Hiroshima in April 1989. "From the first generation through to today's fourth-generation model, the reason we have been able to continue selling the MX-5 all these years is due to the strong support of fans around the world," said Masamichi Kogai, Representative Director, President and CEO. "Mazda was founded in Hiroshima 96 years ago, and as we move toward our centennial year we will continue offering customers the joy of driving with this model, which has become a symbol of our brand. Mazda aims to create a special bond with customers and become a 'one-and-only' brand they will choose again and again." As a way of expressing thanks to MX-5 fans and owners, the One-Millionth MX-5 will be displayed at fan events in Japan and around the world. The tour begins on May 3 at the Hiroshima Flower Festival where the car will participate in the Flower Parade. The MX-5 is a symbol of Mazda's car-making philosophy and tireless pursuit of driving pleasure. Since its debut in 1989, the model has consistently offered driving fun that can only be experienced in a lightweight sports car and won the admiration of people from various countries, cultures and age groups. The MX-5 is also critically acclaimed, with over 200 awards from around the globe to its name. The fourth-generation model released last year has won a string of awards, including 2015-2016 Car of the Year Japan, World Car of the Year and World Car Design of the Year 2016.

Red Bull RX-7 goes drift crazy on New Zealand's Crown Range

For the first time ever, the Crown Range, New Zealand's highest paved road, was closed off for the drifting pleasure of one man. That man is Mad Mike Whiddett, and the machine he's piloting is a heavily modified Mazda RX-7 sponsored by the energy-rich crew from Red Bull and powered by a 750-horsepower quad-rotor engine. There will be smoke. Lots and lots of smoke.
Mad Mike hits speeds in excess of 140 miles per hour over the course of the road's six and a half miles, which boasts 47 individual corners at over 3,500 feet of elevation. Scroll down for all kinds of fire-belching, tire-squealing and smoke-inducing action. Or, as Mad Mike himself puts it, "A dream turned into reality."