Mazda today (2 February) reported a group net loss of JPY112.84bn (US1.3bn) for the April-December period, blaming sluggish sales because of the yen’s strength and Europe’s debt crisis.
The company has revised its forecast for full year losses downward to JPY100bn from an earlier forecast of a JPY19bn loss.
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Mazda builds most of its vehicles in Japan so is more exposed to exports and the strong yen than its rivals with overseas factories. Floods in Thailand, where the company’s pick-up truck and 2 and 3 car lines are built for Asia-Pacific markets like Australia, added to the company’s woes.
For the fiscal nine-month period, Mazda posted an operating loss of JPY54.28bn compared with a profit of JPY13.23bn a year earlier; sales revenue was down 17.4%.
Sales in overseas markets fell 6.2% to 754,000 vehicles. By region, sales dropped in Europe by 16.9% to 129,000 vehicles and in China – where there is also local production by a joint venture – by 11.3 % to 165,000 vehicles.
Sales were relatively strong in the US, however, gaining 3.7% to 266,000 vehicles, it said.
Mazda sales in the US last month rose 68.2% to 23,996 units, according to WardsAuto.com. Calendar 2011 volume was up 9.1% to 250,426 cars.
