Mazda Motor Corp. (TYO: 7261) reported net sales of ¥3.4 trillion (US$30 billion) by the end of 2016, resulting in an operating income of ¥226.8 billion (US$2 billion) in that same year. These numbers showed an increase of 12.3 and 11.8 percent compared to the previous year, respectively. The growth leveraged on the global launch of the new CX-3 and the MX-5 models, as well as the renovation of the Mazda6 and high demand for the CX-5. In terms of units, Mazda saw a 9.8 percent growth compared to 2015 with a total of 1.5 million units.

Despite these good results, the company forecasts net sales of ¥3.3 trillion (US$29.4 billion) and an operating income of ¥170 billion (US$1.5 billion) for 2017, resulting in a decrease of 3.7 and 25.1 percent, respectively. Mazda expects lower demand in major economies due to political and economic factors, as well as uncertainty regarding currency exchange rates. The company will lean on the release of the CX-9 and other new models to obtain a 1 percent increase in sales volume.

In North America, Mazda saw a 3 percent increase in demand totalling 438,000 units. Particularly in Mexico, Mazda’s sales grew by 30 percent resulting in 59,000 vehicles by the end of 2016 and a market share of 4.2 percent. Growth was fueled by strong demand of the Mazda3, Mazda2 and CX-3 models. For 2017, the company expects a renewed 3 percent increase in sales although Mexico is expected to fall by 18 percent.

“Under the Structural Reform Stage 2 medium-term business plan, which begins with the March 2017 fiscal year, we are working toward continuous future growth by offering attractive products that deliver both driving pleasure and outstanding environmental and safety performance as well as the further enhancement of brand value through qualitative growth in all areas of our business, including product development and manufacturing quality, sales quality and financial soundness,” said Masamichi Kogai, Representative Director, President and CEO of Mazda Motor Corp.

Find out more about Mazda Motor Corp. by ordering your copy of Mexico Automotive Review 2016 and reading our interview with Senior Director of Mazda de México, Miguel Barbeyto.

See the full report here.

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