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Mazda Braces For Biggest Annual Operating Loss As Car Sales Slump

Mazda posted an operating loss of 45.3 billion yen for the first quarter, its weakest in 11 years, due to a 31% drop in vehicle sales between April and June.

Mazda anticipates a 40 billion yen ($383.5 million) loss for the year ending March expand View Photos
Mazda anticipates a 40 billion yen ($383.5 million) loss for the year ending March

Mazda Motor Corp forecast on Friday a record annual operating loss as the Japanese automaker continues to be pummelled by falling vehicle sales due to the coronavirus pandemic.

Japan's No. 5 automaker said in a statement it anticipates a 40 billion yen ($383.5 million) loss for the year ending March.

Mazda posted an operating loss of 45.3 billion yen for the first quarter, its weakest in 11 years, due to a 31% drop in vehicle sales between April and June.

The company's annual loss is slightly better than a consensus mean estimate of a 46 billion yen loss drawn from 19 analysts polled by Refinitiv.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

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