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Mazda forecasts continued global sales recovery

Mazda forecasts continued global sales recovery
The Mazda Motor Corporation today announced its first quarter financial and sales results, reporting global sales of 244,000 vehicles during the period 1 April to 30 June 2020.

In most regions, the COVID-19 pandemic continued to have a substantial impact on our results. In Europe*, first quarter sales were down 58% year on year to 28,000 units, a market share of 1.1%. Mazda’s largest region North America saw a 19% decline to 81,000 units and in Japan, Mazda’s domestic market, sales were down 34% to 26,000 vehicles. In China demand continued to recover during the April-to-June period, with sales of 61,000 units, up 13% on a year-on-year basis.

For the first quarter of the fiscal year, Mazda reported net sales of ¥376.7 billion (€3.2 billion**) and an operating loss of ¥45.3 billion (€380.4 million**). Net loss was ¥66.7 billion (€560.4 million**).

With sales operations being resumed worldwide and global production returning to pre-pandemic levels from August 2020, Mazda forecasts global sales for the full fiscal year to be 1.3 million units, the forecast for Mazda in Europe* is 196,000 units. As a result of considered actions to recover sales and reduce fixed costs, Mazda forecasts net sales of ¥2,850 billion (€23.8 billion**), an operating loss of ¥40 billion (€333.3 million**) and a net loss of ¥90 billion (€750.0 million**) for this fiscal year. Mazda will continue to monitor the economic situation as well as the trends of automobile demand in each market where our vehicles are shipped.

Despite the impact of the COVID-19 pandemic on the global business, Mazda remains committed to invest in future technologies, including electrification. Arriving in the UK early in 2021, the Mazda MX-30 is Mazda’s first all-electric production vehicle and part of an electrification strategy that has already seen Mazda M Hybrid mild hybrid systems fitted as standard to the Mazda3 and Mazda CX-30, plus selected Mazda2s.

* including Russia
** Source: Mazda Motor Corporation’s Consolidated Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2021; euro figures for the first quarter were calculated at €1 = 119 and for the full fiscal year at €1 = ¥120

*Article Source http://www.insidemazda.co.uk