Small car demand boost Mazda Australia's results
Soaring demand for small cars has boosted Mazda Australia's full year results, producing record profits in the process.The Japanese manufacturer said that for the 12 months to the end of June its Australian division recorded profits of A$50 million, with net profit up by A$8.3 million to A$48.65 million.
Revenue meanwhile was up by 13 per cent to A$1,68 billion, boosted by growth in overall car sales of 10.3 per cent to 65,460.
This was specifically driven by strong demand in the small-car market, with Mazda's sedan and hatchback models performing strongly.
Indeed, Mazda's finance director John Rau confirmed that profits had been boosted by growth in sales volumes.
"There's been no impact from currency movements because we are paying for imported product in Australian dollars. Nor is this price-led growth, our overall profit margins have remained the same," he said.
Mazda now controls approximately seven per cent of the Australian car market, putting it in fourth position ahead of Mitsubishi, Honda, and Hyundai.
The Japanese firm overtook Mitsubishi as Australia's fourth most popular car manufacturer last year, with plans to grow sales by some 1,500 units a year to 67,000 by 2007.
Mazda's success in the Australian market follows news of growth in the European division. Mazda Motor Europe grew sales by 5.1 per cent in July to some 23,000 units, reflecting the company's best result in 14 years.
Eleven markets achieved double-digit growth, with sales of 184,800 units across Europe in the first seven months of the year, representing 13.4 per cent growth on the corresponding period of 2005.
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