The Mazda Motor Corporation has announced its first quarter financial and sales results, reporting global sales of 244,000 vehicles during the period of 1 April to 30 June 2020. In most regions, the COVID-19 pandemic continued to have a substantial impact on results.
For the first quarter of the fiscal year, Mazda reported net sales of $4.88 billion and an operating loss of $587 million. Net loss was $865 million.
As a result of considered actions to recover sales and reduce fixed costs, Mazda forecasts net sales of $37 billion, an operating loss of $519 million and a net loss of $1.2 billion for this fiscal year.
In Europe, first quarter sales were down 58% year on year to 28,000 units, a market share of 1.1%. Mazda's largest region, North America, saw a 19% decline to 81,000 units and in Japan, Mazda's domestic market, sales were down 34% to 26,000 vehicles. In China, demand continued to recover during the April to June period, with sales of 61,000 units, up 13% on a year-on-year basis.
Despite the impact of the COVID-19 pandemic on the global business, Mazda remains committed to invest in future technologies, including electrification. The Mazda MX-30 is Mazda's first all-electric production vehicle and part of an electrification strategy that has already seen Mazda M Hybrid mild hybrid systems fitted as standard to the Mazda 3 and Mazda CX-30, plus selected Mazda2s.
