Mazda’s Profits Double

Mazda Motor Corp.'s sales in the company's fiscal second quarter ended Sept. 30 grew 6% to 350,000 units. Favorable exchange rates for exported vehicles boosted revenue 17% to 748 billion yen ($6.7 billion).

The company's pretax profit and net income in July-September each more than doubled, to 54 billion yen ($482 million) and 44 billion yen ($395 million), respectively.

In the fiscal first half, Mazda's global unit sales expanded 6% to 669,000 vehicles, led by a 14% increase to 226,000 units in North America. Deliveries grew 18% to 114,000 units in Europe and 19% to 94,000 vehicles in China.

Sales in Japan plunged 18% to 90,000 units in the first half. Other markets were flat.

The company's first-half revenue climbed 16% to nearly 1.5 trillion yen ($12.9 billion). Net income jumped from 25 billion yen to 93 billion yen.

Mazda predicts its full-fiscal-year sales will rise 7% to 1.42 million vehicles. The company's guidance for operating profit and net income are unchanged at 210 billion yen ($1.9 billion) and 160 billion yen ($1.4 billion), respectively