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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.

Turbocharged 2018 Mazda6 EPA mileage figures released

A few months after the reveal of the new turbocharged variant of the Mazda6, we now know how much more fuel the force-fed family sedan will require. The EPA rating puts it at 31 mpg on the highway, 23 in the city and 26 combined. That is less than the naturally aspirated model with either an automatic transmission or a manual, the former of which gets 35 mpg highway, 26 in town and 29 combined. But the naturally aspirated Mazda6's 184 horsepower and 185 pound-feet of torque are well short of the turbo engine's 250 horsepower and 310 pound-feet. The turbo Mazda6's fuel economy also puts it right in the range of similarly powerful sedans in the mid-size arena. In fact, almost every 2018 2.0-liter turbocharged sedan in the segment gets 26 mpg combined, including Kia Optima, Hyundai Sonata, Chevy Malibu, Buick Regal, and most versions of the Honda Accord, with only a difference of 1 or 2 mpg in city or highway results. The V6 Toyota Camry and Nissan Altima also hit this 26 mpg fuel economy mark. As far as power is concerned, the Mazda6 is also very even with the competition, most of which makes right around 250 horsepower, though the Toyota Camry's naturally aspirated V6 is a class-leader at 301 horsepower. But the 6's advantage is in torque. None of the mainstream family sedans touch the Mazda's whopping 310 pound-feet. The 2.0-liter Honda Accord and Ford Fusion come the closest at 273 and 275 pound-feet respectively. To beat the Mazda6 would require going for the Ford Fusion Sport, which is a unique step up in the segment with a turbocharged V6 making 380 pound-feet. The Fusion Sport takes a serious hit in the fuel economy department, though, getting just 20 mpg combined. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

LA Design Challenge invokes biology for 2025 concepts [w/poll]

Participants in the annual LA Design Challenge always manage to come up with edgy, wacky designs for future vehicles, but with a theme of "Biomimicry and Mobility: 2025" this year's crop of cars might be the quirkiest we've ever seen. As usual, automotive designers from around the world participated in this year's competition, and all the designs will all be unveiled next week during the LA Auto Show with a winner being announced on November 21.
Chinese automakers made a strong showing with Qoros, SAIC Motor, JAC Motors (the company responsible for the Ford F-150 clone) and Changfeng all bringing interesting takes on the biology, human intelligence and sustainability theme. One of the more innovative ideas among these automakers is the Qoros Silk Road System allows autonomous vehicles to drive in packs similar to how ants travel. Speaking of ants, the SAIC Motor Mobiliant (shown above) gets its design from the shape of an ant's body, and, like the insect, it can climb building acting as a personal elevator as well. The JAC Motors design also merges vehicle and building design, while the Changfeng LaBrea inspired by the design of muscle fibers.
Other entrants include Subaru and US-based design teams for BMW, Toyota and Mazda. BMW's duo of concepts mimic plant and animal life. The LA Subways concept acts as a submersible, single-person vehicle to take advantage of the LA river, with a shape similar to an Ocean Sunfish. The Sustainable Efficient Exploratory Device (SEED) imitates the shape of a seed pod, and uses propulsion methods inspired by a shark, dragonfly and a water bug. Mazda's Auto Adapt might be the most car-like concept of the bunch, while the Subaru Suba-Roo and the Calty-designed, Toyota e-grus are the most mind-blowingly awesome.