Mazda posts 47per cent plunge in annual profit, skips financial forecasts
TOKYO: Mazda Motor on Thursday declined to give an earnings forecast and posted its lowest annual profit operating profit in eight years as the coronavirus outbreak hammered global vehicle demand.
Mazda declined to give an earnings forecast for the current business year due to uncertainties about the longer-term impact of the coronavirus on its operations and sales. The automaker took a particularly big hit in China, its second-largest market and where the coronavirus originated.Global automakers have begun to gradually resume operations at their vehicle plants, but weak demand, supply chain disruptions and social distancing measures at factories are expected to limit output in the coming months.
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