Report: Mazda seeking partnership, forecasts $1.29 billion loss

Mazda CEO Takashi Yamanouchi says the Japanese car maker is seeking alliance partners as it faces an increasingly difficult financial future. Yamanouchi made the statement after Mazda forecasted a loss of 100 billion yen ($1.29 billion) in the fiscal year that ends March 31. The company forecasted a 2 percent slide in global sales to 1.25 million units.

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The decrease in sales will mark Mazda’s fourth consecutive straight year of loss and its worst loss in 11 years. The worst loss on Mazda’s book as of right now was a net loss of $2.0 billion in that ended March 31, 2001.

Yamanouchi said he wants to offer Skyactiv products and transmission to other automakers to attract new partnerships.

Mazda ended its relationship with FoMoCo in 2008 after the American automaker dropped its 33 percent stake in the company.

– By: Omar Rana

Source: AutoNews