Mazda Motor Corp. said Thursday that its consolidated net profit surged 40.5 percent to 33.9 billion yen in fiscal 2003, while its operating profit rose 38.5 percent to 70.2 billion yen, the highest figure in a decade.
The automaker, 33.4 percent owned by Ford Motor Co., attributed the positive performance to brisk sales in Europe, China and Australia, along with a 49.6 billion yen reduction in manufacturing costs.
The company said its pretax profit rose 42.5 percent to 58 billion yen, while sales rose 23.3 percent to 2.91 trillion yen. Profits and sales grew for the third consecutive year. Mazda sold 1.22 million vehicles worldwide, up 20.4 percent from the previous year.
Overseas sales grew 8.5 percent to 785,000 units, led by strong demand in Europe, Australia and China. In Europe, sales volume increased 28.3 percent to 258,000 units, where the Mazda 6 and the Mazda 2 enjoyed brisk sales.
But sales in North America slipped 6 percent to 327,000 units, amid declining sales of the minivan Mazda MPV.