Mazda swings back to profit

DUBAI — Mazda, the Japanese car giant, announced on February 6 that it swung back to a profit in the nine months to December 2012 as it boosted its full-year earnings forecast.

By (Staff Report)

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Published: Thu 21 Feb 2013, 10:36 PM

Last updated: Sat 4 Apr 2015, 9:40 AM

Mazda reached a net profit of $276 million for the April-December period, reversing its net loss of $1.2 billion in 2011. Sales rose 8.5 per cent for a value of $16.6 billion.

It credited the results to a bounce in sales and cost-cutting after suffering a double punch from a strong yen as well as falling demand in key markets in 2011, when manufacturers were also hit by effects of the Japan’s earthquake and tsunami.

In China, Mazda sold 129,000 vehicles from April to December 2012, down 21.5 per cent from 2011, “but sales are on a recovery trend now,” said Mazda Motor Corporation.

Demand for Japanese cars in China, the world’s biggest vehicle market, plunged last year in the wake of a consumer boycott sparked by a territorial spat between Tokyo and Beijing over an East China Sea island chain.

Mazda also expressed that it was projecting a full-year net profit of $280 million, up from an earlier estimate of $107 million, while sales are forecast to be $23.6 billion, compared with an earlier $23.4 billion prediction.

Japan’s automakers have been posting strong results, underscoring their recovery from the twin disasters and the surging value of the yen which has been declining for the past months.

Today, Galadari Automobiles Co Ltd LLC (GAL), sole distributor for Mazda in the UAE, operates seven showrooms and service facilities across the country, and lately announcing its new state-of-the-art showroom located on Sheikh Zayed Road in Dubai. The showroom is 100,000 square feet costing hundreds of millions in investment. This one-of-a-kind structure connects the car showroom to the services and workshop.

“We put customers first and we are completely transparent about what we do for the customers whether it is in our cars or our services,” said Axel Dreyer, general manager of GAL.

GAL is a flagship company in the Galadari Brothers Group. GAL has been in a successful partnership with Mazda Motor Corporation for 40 years.

Enjoying a pioneering status in the UAE, GAL holds strongly to its vision of achieving growth and success by providing world class automotive products and quality after-sales servicing and support to ensure customer satisfaction which has earned the goodwill and trust of its satisfied customers.

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