Mazda Posts First-Quarter Global Sales Gain of 1%, Returns to Profit

Mazda Motor Corporation reported its financial results for the first fiscal quarter (April–June 2024), revealing global vehicle sales of 304,000 units, up 1% year-over-year. Net sales reached ¥1.2857 trillion (approximately $8.15 billion), a 17% increase from the same period last year. Operating profit stood at ¥32.8 billion, compared to an operating loss of ¥46.1 billion in the prior-year quarter. Net profit was ¥29.6 billion, reversing from a net loss of ¥42.1 billion a year earlier. In the U.S. market, the all-new generation of the CX-5 launched in March 2024 recorded sales of 27,000 units from April to June, down 23% year-over-year. Mazda North America attributed the decline to limited inventory during the model transition and disruptions in export supply patterns from Japan. However, retail sales (sales to private customers) of the CX-5 in June and July rose nearly 10% year-over-year. Notably, the CX-5 is not offered with a hybrid powertrain in the U.S., whereas sales of the locally produced CX-50 surged 52% year-over-year to 35,000 units during the same period, with hybrid variants jumping 94%. In Europe, CX-5 sales climbed 74% year-over-year to 10,000 units. Mazda continues offering the gasoline-powered CX-5 in Europe and has partnered with Changan Automobile to co-develop electric vehicles to comply with stringent emissions regulations. Mazda reaffirmed its full-year guidance for the fiscal year ending March 2027, forecasting a 12% increase in net sales to ¥5.5 trillion, operating profit of ¥150 billion, and net profit of ¥90 billion.