Mazda announces record profits for first half of the year as sales of CX-60 go through the roof

  • New models drive record half year profits at Mazda
  • Accounts show Japanese brand made an operating profit £736m) in six months to September 30
  • Aided by sky-high CX-60 sales in Europe, bosses have now adjusted full year forecasts

Time 11:51 am, November 7, 2023

Mazda has announced record profits for the first half of the financial year after sales of its new models went through the roof.

Accounts published today by the Japanese brand show that the firm made an operating profit of €847m (£736m) in the six months to the end of September.

The figure is the highest ever half-year total to be posted by the outfit after global sales shot up by 20 per cent, compared to the same period in last year.

Documents show that Mazda sold a total of 616,000 globally, resulting in net sales totalling €15bn (£13bn). Meanwhile, net income was €706m (£613m).

In Europe, sales during the first half of the fiscal year were up 34 per cent year-on-year to 90,000 vehicles, while Mazda’s North America sales volumes were up 39 per cent to 251,000 units.

Elsewhere, in Mazda’s home market of Japan, sales were up 20 per cent to 82,000 units.

The impressive results were largely made possible by the popularity of new models to be introduced to the brand’s line-up.

In Europe, the CX-60 has proved a major hit, while the North American market lapped up the CX-90.

The pair’s popularity have allowed Mazda to revise its global sales forecast for the full fiscal year upwards to 1.2 million units.  The forecast for Mazda in Europe now stands at 193,000 units, making Europe the brand’s second-largest region.

Overall, bosses are forecasting net sales of €31.7bn (£27.5bn), an operating income of €1.6bn (£1.4bn) and a net income of €1.1bn (£955m) for the current financial year.

Jack Williams's avatar

Jack joined the Car Dealer team in 2021 as a staff writer. He previously worked as a national newspaper journalist for BNPS Press Agency. He has provided news and motoring stories for a number of national publications including The Sun, The Times and The Daily Mirror.

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