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Mazda's China sales plunge as auto market decelerates
By Jin Jing |
December 5, 2011, Monday
|
Online Edition
Online Edition
MAZDA Motor Corp has become the latest victim of China's cooling automotive industry with its local sales dipping seven percent to 191,343 units in the first 11 months of this year.
Deliveries in November fell 13 percent year on year to 17,330 units, Japan's third largest auto maker said in a statement.
Sales of its joint venture FAW Mazda, which makes the Mazda 6 mid-to-high class sedan, fell 6 percent from January to November, while another three-way venture Changan Ford Mazda reported a sales decline of 7 percent during the same period.
"The sluggish business performance is triggered by the further weakness of China's overall market as well as the significant price reduction on competitive models," said Yamada Noriaki, president and chief executive officer of Mazda Motor China.
China's once galloping auto market has geared down to a 3.2 percent gain in the first 10 months, after a 32 percent surge in 2010 and 46 percent jump in 2009.
The moderation has been attributed to a series of factors including the expiration of tax incentives for small cars and local authorities' initiatives aimed at easing traffic congestion.
Japanese carmakers, including Mazda, have also lost stream in China because of the March earthquake that cut supplies and delayed deliveries.
Noriaki said Mazda was trying to regain sales momentum by expanding product lines and dealer networks.
The automaker plans to open 11 dealers across its two joint ventures this month, boosting its total dealership in China to 370 by the end of this year.
New products include the Mazda 3 hatchback, expected to be launched late this month as well as a brand new compact SUV Mazda CX-5 that will be available in the first half of next year. The model will be equipped with Mazda's latest power package integrating SKYACTIV Technology for further fuel efficiency.
Other carmakers, including Volkswagen, have outperformed the market and through its venture with SAIC Motor Corp reported sales of over 1 million units in the first 11 months, already surpassing its full-year sales of 2010.
Deliveries in November fell 13 percent year on year to 17,330 units, Japan's third largest auto maker said in a statement.
Sales of its joint venture FAW Mazda, which makes the Mazda 6 mid-to-high class sedan, fell 6 percent from January to November, while another three-way venture Changan Ford Mazda reported a sales decline of 7 percent during the same period.
"The sluggish business performance is triggered by the further weakness of China's overall market as well as the significant price reduction on competitive models," said Yamada Noriaki, president and chief executive officer of Mazda Motor China.
China's once galloping auto market has geared down to a 3.2 percent gain in the first 10 months, after a 32 percent surge in 2010 and 46 percent jump in 2009.
The moderation has been attributed to a series of factors including the expiration of tax incentives for small cars and local authorities' initiatives aimed at easing traffic congestion.
Japanese carmakers, including Mazda, have also lost stream in China because of the March earthquake that cut supplies and delayed deliveries.
Noriaki said Mazda was trying to regain sales momentum by expanding product lines and dealer networks.
The automaker plans to open 11 dealers across its two joint ventures this month, boosting its total dealership in China to 370 by the end of this year.
New products include the Mazda 3 hatchback, expected to be launched late this month as well as a brand new compact SUV Mazda CX-5 that will be available in the first half of next year. The model will be equipped with Mazda's latest power package integrating SKYACTIV Technology for further fuel efficiency.
Other carmakers, including Volkswagen, have outperformed the market and through its venture with SAIC Motor Corp reported sales of over 1 million units in the first 11 months, already surpassing its full-year sales of 2010.
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