Mazda U.S. Sales Tepid in May

Mazda Motor Corporation (Tokyo: 7261) struggled in May posting U.S. sales growth of just 5.4 percent on a daily selling rate adjusted basis, however, the company's sales for the year to date remain strong compared to last year, up an adjusted 19.3 percent.

Hiroshima-based Mazda sold 20,357 cars in May, a 5.4 percent adjusted gain. On a volume only basis, Mazda's May U.S. sales grew 13.9 percent. Mazda's fuel-efficient Skyactiv technology accounted for 72 percent of May sales. Mazda's modest gains were driven by the new CX-5 which was its second bestselling vehicle after the Mazda3. Mazda3 sales, however, dropped 3.6 percent. The only other Mazda model to increase sales in May was the Mazda6, which experienced respectable 40 percent sales growth.

Mazda's global competitiveness has been hurt particularly badly by the rising value of the Japanese yen, a lack of international production, and supply-chain disruptions caused by last year's Japanese tsunami and floods in Thailand. Mazda Motor Corporation (Tokyo: 7261) shares were down 4 percent to 96 yen ($1.22).