US sales drop hurts Mazda Q1 earn­ings

New Straits Times - - Business -

Mazda Mo­tor Corp yes­ter­day posted a 24 per cent drop in its first-quar­ter profit, hurt by a slump in sedan sales in the United States where con­sumers con­tinue to opt for sports util­ity ve­hi­cles (SUVs) and other larger mod­els. Op­er­at­ing profit at Ja­pan’s sixth­largest car­maker came in at 39.9 bil­lion yen (RM1.5 bil­lion) for the April-June quar­ter, ver­sus 52.4 bil­lion yen a year ago. How­ever, this was higher than an av­er­age fore­cast of 33.76 bil­lion yen from seven an­a­lysts polled by Thom­son Reuters I/B/E/S.

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