Mazda posts second-quarter loss, but helped by rebound in North America sales

Mazda posted a smaller loss in the second quarter after gaining benefit from a rebound in its biggest market -North America -where vehicle sales rose 1% from a year earlier.
By : Reuters
| Updated on: 09 Nov 2020, 12:07 PM
The logo of Mazda is pictured at the LA Auto Show in Los Angeles, California, US. (REUTERS)
The logo of Mazda is pictured at the LA Auto Show in Los Angeles, California, US. (REUTERS)
The logo of Mazda is pictured at the LA Auto Show in Los Angeles, California, US. (REUTERS)
The logo of Mazda is pictured at the LA Auto Show in Los Angeles, California, US.

Mazda Motor Corp on Thursday posted a 7.59 billion yen ($73.4 million) operating loss in the three months ended Sept 30 as sales contracted amid the coronavirus pandemic.

The loss, calculated by Reuters from the company's half-year result, compares with an 18.9 billion profit in the same quarter last year and a 45.3 billion yen loss in the first three months of the business year, which was its worst in quarter in 11 years.

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Mazda posted a smaller loss in the second quarter after it benefited from a rebound in sales in North America, its biggest market. Vehicle sales there rose 1% from a year earlier.

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(Also read | Toyota, Mazda joint venture Alabama plant will now cost $2.3 billion)

Japan's No.5 automaker kept its full-year forecast for an operating loss of 40 billion yen. That is better than the average full-year estimate for a 53.3 billion yen operating loss from 17 analysts polled by Refinitiv.

For the full business year the maker of the CX-5 SUV crossover and Mazda3 sedan kept its full-year prediction for global vehicle sales to fall 8.5% to 1.3 million units, the lowest in seven years.

First Published Date: 09 Nov 2020, 12:07 PM IST
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