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Mazda Predicts 20% Drop in Operating Profit
Mazda Motor Corp. says an upswing in spending for technology and U.S. sales expansion will shrink its operating profit 20% to 110 billion yen ($1 billion) in the fiscal year that began this month.
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Mazda Motor Corp. says an upswing in spending for technology and U.S. sales expansion will shrink its operating profit 20% to 110 billion yen ($1 billion) in the fiscal year that began this month.
The downturn will be Mazda’s first in two years, The Nikkei observes. The newspaper says the company’s anticipated small increase in unit sales to 1.65 million vehicles this year won’t be enough to offset increased spending on electrified powertrains, vehicle connectivity features and self-driving systems.
Mazda also is growing its U.S. dealer network. The move anticipates sales growth fueled in part by the factory it plans to open with partner Toyota Motor Corp. in Alabama in 2021. The plant will split its 300,000-unit annual capacity equally between the two companies. Mazda will use the facility to launch a new crossover vehicle.
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