Five-Year Turnaround Plan to Put Japanese Automaker on Track
Earlier this week, Japanese daily business newspaper Nihon Keizai Shimbun reported that Mazda Motor Corp. is planning to withdraw from the luxury car market. Mazda is the fifth largest automaker in Japan.
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| With only 1,300 sold last year, the Millenia will cease production in 2004. (Photo: Trevor Hofmann, Canadian Auto Press) |
One third of Mazda, owned by Ford Motor Co. has reported that they will halt production of its last remaining luxury vehicle, the Millenia by the end of this year. In 2004 vehicle sales will stop, said the paper, citing company sources. Last year only 1,300 Millenias were sold.
"We are considering various options for what to do about the Millenia but nothing has been decided yet," a spokesman for Mazda commented.
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| Mazda has decided to focus on its more prosperous areas, namely small and midsized passenger vehicles and sports cars. (Photo: Trevor Hofmann, Canadian Auto Press) |
The paper stated that Mazda will continue to focus its energy on small and midsized passenger vehicles, as well as sports cars; an area where the company has prospered.
Currently, Mazda is in the middle of a five-year turnaround plan and relies heavily on new models including the Mazda 2/Demio subcompact and the Mazda6/Atenza midsized to augment global sales, and place the automaker on a favorable recovery track.