Mazda Posts Global Profit, North American Losses Widen

We've been big fans of Mazda's recent products, including the fun-to-drive CX-5 crossover, and stylish new Mazda6 sedan. Despite these attractive new models, the company's North American unit posted a $519 million loss for the current fiscal year. Even with the North American losses, the silver lining on Mazda's cloud was a global net profit of $364.3 million, the company's first in five years, Automotive News reports.

Despite the disappointing North American results, Mazda CEO Takashi Yamanouchi remains bullish on both regional and global prospects for the company in the year ahead, forecasting a sales gain of 11 percent for North America, for a total of 415,000 units. North American sales for 2012 were flat at 372,000, and U.S. sales were up modestly to 273,000. Although Mazda was profitable in Europe, with a $33.2 million profit for the year, that was down 45 percent from the year before, with sales down six percent to 172,000 units. Yamanouchi is targeting global sales of 1.7 million vehicles for the 2015 fiscal year and a $1.59 billion profit for that timeframe.

With the yen's recent decline relative to the U.S. dollar, as well as an all-new Mazda3 coming later this year, results for the 2013 fiscal year are expected to improve, also boosted by the full-year availability of the new Mazda6 midsize sedan.

Source: Automotive News (subscription required)

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