Mazda Posts Profit, Leaves Gloom Behind
After the recent spate of negativity from Hyundai and Suzuki comes some good news from a car company that has itself faced a bit of hard luck over the course of the past year. Mazda has announced that it will post a net profit of roughly $153 million USD for the third quarter of 2012, which is a reversal of fortunes after having posted a nearly $200 million USD loss during the same quarter only 12 months earlier.
Mazda has been forced to deal with a number of negative circumstances in its recent history, including the divestiture of former partner Ford of its stock in the company as well as the current slumping market in Europe. The latter has claimed numerous victims as car companies struggle to deal with decreased demand and a murky future on the continent, but Mazda in particular - due to its status as smaller, independent automaker - has had a rough go of it. The strong Japanese yen has also impacted Mazda, due to the fact that it currently produces the vast majority of its automobiles within the borders of its home country.
A modest profit when the company closes its fiscal year in March 2013, based on continued strong sales in the Russian market as well as the release of new products like the Mazda Mazda6 mid-size sedan. The company is currently beating initial projections for its fiscal success, and with a new Russian production plant online, and a Mexican plant slated to open within two years, the future looks a little less bleak for the sporty brand.
