TOKYO — As Mazda Motor has failed to reap the hoped-for profits from a flurry of investment in expanding and tweaking its vehicle lineup, it is betting on a new line of high-end, high-priced SUVs to fatten its slim margins.
The Japanese automaker’s earnings look solid. Operating income for the year ending March 2024 is projected to increase 27% to 180 billion yen (around $1.2 billion), according to an earnings release this month. This is being driven by sales in the U.S., where Mazda forecasts a 22% year-on-year increase in sales volume.