Mazda reduces net loss in fiscal first quarter to JPY6.5 billion

Article by Anita Panait, on August 2, 2012

Mazda Motor Corp. managed to taper its net loss in its fiscal first quarter ended June 30, 2012 to JPY6.5 billion ($83 million) from JPY25.5 billion in the same period in the last fiscal year.  The company’s net loss for the period is lower than the JPY7.5 billion yen average estimate of five analysts surveyed by Bloomberg.

The carmaker expects to return to profitability for the fiscal year ending March 31, 2013, and is already making moves like selling assets, shifting some production outside Japan and concentrating on fuel-efficient models. The company’s new CX-5 crossover sport utility vehicle was a huge success, posting sales figures that are more than double its full-year target of 12,000 units as of July 1, 2012, just barely five months after it was launched.

According to Koichi Sugimoto, a Tokyo-based analyst at BNP Paribas SA, the good sales for the CX-5 have benefited from the government subsidies in Japan, making up for their decline in China and Europe. Mazda posted 6.5-percent increase in global sales in the quarter to 299,733 units. The carmaker particularly posted a 44-percent increase in sales in Japan, thanks to government subsidies on fuel-efficient cars.

Mazda posted a 6.8-percent increase in sales in the U.S. to 61,774 units, while logging a 12-percent and 1.4-percent drop in sales in China and Europe respectively.

Mazda has said it will increase the production of CX-5 to 240,000 units a year from 200,000 to cater to increasing demand. Mazda will commence producing the Mazda6 sedan, fitted with its Skyactiv fuel-saving technology, this month. The automaker is planning to unveil eight new vehicles, increasing the ratio of vehicles using Skyactiv to 80 percent by March 2016.

Topics: mazda, loss

If you liked the article, share on:

Comments

Recommended

The 2018 Cadillac CTS-V sedan will be getting a new paint job that will give it a unique icy feel. Dubbed the Glacier Metallic Edition, this special model was built...
by - August 23, 2017
During the North American International Auto Show at Detroit in 2015, Hyundai introduced a concept pickup truck they named the Santa Cruz. This model took home the Concept Truck of...
by - August 23, 2017
Porsche introduces the technologically advanced wheels with braided carbon fiber. These will be initially available on the 911 Turbo S Exclusive Series. Being the first car manufacturer to offer such...
by - August 23, 2017
All eyes were turned to the fuchsia pink bespoke McLaren 720S MSO at the 2017 Pebble Beach Concours d’Elegance Sunday. Surely, we can understand why. The one-off supercar, which was...
by - August 23, 2017
Hyundai Motor Group – including both Hyundai Motor and Kia Motors – has disclosed a wide-ranging plan to introduce 31 environment-friendly models in a new development roadmap that aims to...
by - August 22, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries