Mazda Motor Corp forecast on Friday a document annual working loss because the Japanese automaker continues to be pummelled by falling car gross sales because of the coronavirus pandemic.
Japan’s No. 5 automaker stated in an announcement it anticipates a 40 billion yen ($383.5 million) loss for the 12 months ending March.
Mazda posted an working lack of 45.three billion yen for the primary quarter, its weakest in 11 years, because of a 31% drop in car gross sales between April and June.
The firm’s annual loss is barely higher than a consensus imply estimate of a 46 billion yen loss drawn from 19 analysts polled by Refinitiv.
(This story has not been edited by NDTV employees and is auto-generated from a syndicated feed.)
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