Mazda has posted operating profit down 23.9% to 39.9 billion yen for the quarter ended June 30 (fiscal year 2018 Q1). The company’s profit was dented by a sales decrease on North America and an unfavourable model mix.
Although overall vehicle sales for Mazda were slightly up in the quarter (up 1% from the prior year to 377,000 units) there was a decrease of 6% to 106,000 units in North America. Mazda said that in North America crossover sales ‘retained momentum but the passenger car market remains tough’.
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In North America, it said ‘sales of the new CX-5 are strong and meeting targets. In Mexico, Mazda posted sales up 11% to 12,000 units.
Quarterly sales in China were a very big positive for Mazda, rising 20% to 71,000 units. The company said that in China there was ‘continued momentum of Mazda3 sales and CX-4 led sales’.
Total revenue for the quarter was up 3% to 802.1 billion yen.
Mazda stuck to its forecast for a 19% increase in operating profit (on revenues up 4% to 3,350 billion yen) for the fiscal year to the end of March 2018 as it expects model mix to improve in key markets. The company plans to ‘shift sales of new CX-5 into high gear with global rollout’ and add the new three-row crossover SUV, Mazda CX-8, in Japan.
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