Mazda motor Corp the manufacturer of passenger cars and commercial vehicles, where it has cost cutting to reduce the annual loss for the previous financial year. Mazda announced net loss of 6.48 billion yen ($69.2 million) on yearly that ended in March, compared with previous reading 71.49 billion yen a year earlier.
The reason behind this loss is a decline in cars sales, which declined 14.7% to 2.16 trillion yen on yearly, while sales in U.S dropped 12% and Europe 26%.
Analysts are expecting rising the demand in China and U.S, which helps the company to return to the track again, and expects increasing the sales to reach 1.27 million vehicles this year.