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Showing results for tags 'profitability'.
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Hiroshima-based carmaker, Mazda, has got a good reason for celebration. The company returned to profitability for the fiscal year that ended on 31st March 2013. This is after four years of losses, including a loss of US$1.14 billion (S$1.41 billion) for FY2011. Mazda posted a global net profit of US$364.3 million (S$450 million) for FY2012. Mazda CEO, Takashi Yamanouchi, attributed the result to restructuring and a falling Yen, which has depreciated by 21 percent against the US dollar since November last year. This helped to improve Japanese exports. However, the North American market continued to bleed in fiscal year that had just ended, posting an operating loss of US$519.1 million (S$641 million) although all the other regions remained in the black. Sales in North America also fell short of the company's forecast. Looking forward, Mazda expects the region to get a boost from the full year impact of the all new Mazda6 and the debut of the next generation Mazda3. For FY2013, Mazda expects global net and operating profit to double in the wake of the Yen's decline and the rolling out of more vehicles equipped with the company's latest Skyactiv engine, transmission and chassis technologies.
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The Ford Ka, whose life began in 1996, will probably not see a replacement beyond the current second generation. According to Ford of Europe's Executive Design Director, Martin Smith, the Ka is not a profitable model and is not in line with the brand's global 'One Ford' direction. "It won't pass a US crash test, it was designed too narrowly to suit European tastes and it's only built in one place. It'll get a light mid-life refresh but, as things stand, I can't see a life for the car much beyond that," commented Mr Martin. But, he suggested that Ford of Europe is analysing the prospects of a more diverse range of superminis for the European market that could bring the company back in the black. The second generation Ford Ka made its debut in the 22nd James Bond film, Quantum of Solace, being driven by Bond girl, Olga Kurylenko. It was unveiled to the public at the 2008 Paris Motor Show subsequently.
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Opel, the struggling European arm of General Motors Co , took a key step towards returning the brand to long-term profitability after its supervisory board voted in favor of a midterm business plan that included "massive" investments in its model range. The plan also envisages cost cuts, new models and efforts to win new export sales. "The plan approved today paves the way for a strong future for Opel. GM stands behind Opel and supports management and labor," said GM Vice Chairman Stephen Girsky in a statement. The company has previously said it is working on plans that provide guaranteed jobs for German workers until 2016 in return for postponing pay increases, and the expectation that the plant in Bochum will close after that. The company commented that it has plans to move into market segments where it has not been represented before, and expand sales in emerging markets. It also expects added savings from its alliance with France's Peugeot Citroen. Opel
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[extract] It is not a secret about Mazda having zero net profit for the past three years and it is likely that the Japanese auto giant is going to go through another year of financial loss. And due to this, Mazda is looking for partners to share development and manufacturing costs so as to return to profitability. According to the company
