Mazda Warns of Leaner Times as It Reports Strong Q2
Expects weakened U.S. market in the spring.
Mazda reported its fiscal Q2 profit ballooned year-over-year to $516.9 million.
IMAGE: Mazda
Mazda leaders, considering the economic picture in the Japanese carmaker’s biggest market, said as they announced financial results Thursday that demand in the U.S. could wane in the spring along with what they expect to be a weakened American economy.
Rising interest rates and prices could slow what’s now strong U.S. demand for its models, said Senior Managing Executive Officer Yasuhiro Aoyama, who expressed concern that car buyers will shift to buying less expensive vehicles.
Aoyama said the carmaker would adjust its output plans accordingly if reality bears out that projection, producing models that prove popular amidst less rosy conditions.
Meanwhile, Mazda reported that its fiscal second-quarter profit ballooned from $94.1 million a year earlier to $516.9 million as wholesale shipments rose 29% to 284,000.
READ MORE: Car Sales Up at Multiple Brands as Honda Continues Skid
Originally posted on Auto Dealer Today
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