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Monday, June 17, 2024

Mazda finishes first three quarters reporting record profits

UK
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Automobile Magazine
Editor | News | United Kingdom

The Mazda Motor Corporation announced its financial and sales results for the first three quarters of the fiscal year, today, reporting global sales of 930,000 vehicles for the period 1st of April to 31st of December 2023, up 17% year-on-year.

Sales in Europe in the first three quarters of the year were up 24% year on year to 135,000 vehicles, driven by sales of the Mazda CX-60 and Mazda CX-5. Germany and the UK, Mazda’s biggest markets in the region, contributed with 34,000 and 22,000 units, respectively. Mazda’s sales volume in North America was up 32%, to 380,000 units. In Mazda’s home market of Japan, sales were 121,000 units in the first three quarters of the fiscal year, a 12% year-on-year increase. China, Mazda’s biggest market in Asia, registered sales of 73,000 units, up 1%.

For the nine-month period, Mazda reported record profits at all levels: net sales were ¥3,566.5 billion (€23 billion*), up 32% from the prior year, and operating profit were ¥200.2 billion (€ 1.3 billion*), up 83%. Net income was up 60% to 165.5 ¥billion (€1.067 billion*).

Carefully reviewing the various risks and opportunities, including the recent earthquake in the Noto Peninsula in Japan, Mazda’s full year forecast remains unchanged: including global sales of 1,286,000 units for the full fiscal year, net sales of ¥4,800 billion (€ 31.8 billion*), a record operating income of ¥250 billion (€ 1.7 billion) and a net income of ¥170 billion (€1.1 billion*) for the fiscal year ending in March 2024.

In the third quarter of the fiscal year, the Mazda Motor Corporation re-established the RE Development Group to accelerate research and development of rotary engines to be used as generators in electrified models. The RE Development Group will conduct research and development in areas such as regulatory compliance in major markets as well as the application of carbon-neutral fuels.

Source: presentation20240209_e.pdf (mazda.com)

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