Mazda's quarterly profit falls 54 despite strong China, US sales
TOKYO (Reuters) -- Mazda Motor Corp. nowadays said quarterly revenue dropped 5.4% despite greater vehicle sales in China and the United States of America that helped cushion the blow of international trade losses and prices reserved for new plants in Mexico and Thailand.
Mazda said in a statement that its April-June operating revenue was 53.32 billion yen ($430 million). That was down from 56.38 billion yen a year past.
Mazda's worldwide vehicle sales in its fiscal first-quarter soared 16% to 370,000, assisted by brisk need for the re-modeled Mazda2 and CX3. Sales in The United States, its largest market, increased 5.6 percent.
New version starts helped revenue in China to soar 31 percent into a record 57,000 automobiles, aided partly by government incentives favoring the environmentally friendly Mazda3 version. But the auto-maker stayed cautious on China, as worries linger on whether current stock exchange turmoil and financial jitters may contract consumers' desire for new automobiles.
"To be truthful, it is tough to study [the Chinese automobile market]," mentioned Masahiro Moro, handling executive officer and head of worldwide advertising. "So far this has been been increase and increase, but that is not quite true," he stated.
The revenue increase took the sting from depreciation prices of 5.6 billion yen reserved for new crops, and 10.8 billion yen in foreign trade losses.
Mazda.com left its economic forecasts for the year ending March 2016 unchanged, projecting working revenue of 2-10 billion yen, marginally upward from 203 billion yen a year before.
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