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Mazda posts $733 million loss
Mazda posts $733 million loss
Posted Tuesday, May 12, 2009, 1:34 pm in Employee News
Mazda Motor Corp. sank to a loss for the fiscal year that ended in March, sharing the fate of other Japanese automakers battered by the global slump and strong yen, the Associated Press reported.
Hiroshima-based Mazda, Japan’s fifth-biggest automaker, reported a $733-million loss for the fiscal year ended March 31, as sales plunged 27 percent to $26 billion, the AP said. A year earlier, Mazda, which makes the Miata roadster and RX-8 sports car, had reported a $943-million profit, the news service said
According to the AP, Mazda said one-time losses related to the value of overseas affiliates and the release of deferred tax assets also contributed to the red ink. Mazda said it expected to stay in the red for the fiscal year through March 2010 with a $513.7-million loss and a 19.9 percent drop in sales to $20.8 billion, the story said. (Associated Press/Detroit Free Press)
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Rick
Nitro Year: 2007 (1 of 113,000 sold)
Nitro Model: R/T 4X4 Stone White
CAT-BACK Exhaust, CAI, Projector Head Lamps
Fully-Equipped w/all factory options
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