AutoBeta(AutoBeta.net)08/02 Report--

This year, trade frictions between the two largest economies and a slowdown in China, the world's largest car market, have led to a general decline in sales in the global car industry. Mazda and many auto companies reported disappointing quarterly results, including Nissan and Ford, which announced layoffs and possible plant closures earlier this month.

According to domestic media reports, Mazda announced its financial results for the first quarter from April to June this year, with an operating profit of 6.952 billion yen ($64 million), down 79 percent from 32.75 billion yen in the same period last year. This is mainly due to a decline in sales in the United States and China. It was Mazda's worst first-quarter performance since June 2012, with net turnover of 848.9 billion yen, down 2.7 per cent from the same period last year.

From April to mid-June, Mazda sold 353000 vehicles worldwide, down 12 per cent from a year earlier. Sales of Mazda fell 15 per cent to 68000 vehicles in the US and 54000 in China, down 21 per cent from a year earlier. The United States is Mazda's largest single market in the world.

Among the segments in the Chinese market, the retail volume of the Mazda 3 was 68000, down 3.8 per cent from the same period in the previous fiscal year, as sales of the Mazda 3 suffered fierce competition. But crossover models such as the CX-5 continue to sell well in China. In other markets, Mazda retail sales totaled 103000 units, up 9.1 per cent from a year earlier.

At a time when carmakers are trying to ease demand for cars, they must invest heavily in new technologies, including electric cars, self-driving technology and ride-sharing services, to survive major industry changes.

Mazda CEO Marumoto said earlier that Mazda will launch its first electric car in 2020, which will be based on Mazda's own R & D architecture. Mazda is also working with Toyota to develop a new electric vehicle architecture. Mazda plans to launch plug-in hybrid cars in 2021 or 2022. By 2030, Mazda cars will be electrified across the line, including some diesel models.

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