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Masahiro Moro, president and chief executive of Mazda’s North American operations, joins Yahoo Finance’s The First Trade with Alexis Christoforous and Brian Sozzi to discuss the company’s recent auto sales, customers of the future, centennial and more.
BRIAN SOZZI: All right, let’s move from food to car. Car sales are in recovery. In July, Mazda saw its sales increase by 3.4% last year. Here to speak is Masahiro Moro, president and ceo of Mazda’s North American operations, adding the United States, Canada, Mexico and Colombia. Moro-san, extremely happy to see you this morning. Tell us why, why do you think we’re witnessing or witnessing an uptick in your business?
MASAHIRO MORO: Well, I think everyone has suffered the COVID-19 pandemic, but Mazda is now demonstrating the DNA of our company’s resistance to adversity and an increasingly difficult mind. And then we have a very, very progressing company in difficult times.
ALEXIS CHRISTOFOROUS: Moro-san, I know you, you have this joint venture with Toyota. You’re building a factory here in the United States in Alabama. This will take place next year. And I know you’re also investing, as many automakers do, in electric cars and a next-generation car type.
Can you give us an update? How’s it going with this Toyota joint venture? And what happens on the front of the electric vehicle?
MASAHIRO MORO: Of course, our factory in Alabama, I think the structure and hiring of other people are on the way right now. In recent months, we have struggled due to the effect of COVID-19, however, the team is fully energized and works through difficulties and discovers, you know, new tactics to get things done. So I think he’s on the right track and I’m looking for progress at the Alabama plant.
And, also, electric vehicle, we – we present the first new electric vehicle with Mazda logo in European markets where THE CO2 needs are very, very strict. And now we have to launch those cars in other markets. And I look forward to presenting this to the U.S. market. In the remote future. Then we’re on the right track.
BRIAN SOZZI: For investors who may not know Mazda too much, where, what are their plans in the electric vehicle market?
MASAHIRO MORO: Well, our existing vehicle produced first is that we call it MX-30, which is a purely electric vehicle type a little crossed, which is an all-electric vehicle manufactured through Mazda and that is absolutely, without a doubt, Mazda. a laugh to drive This is a top and superior valuation in European markets.
ALEXIS CHRISTOFOROUS: I know you’ve recently had to reduce your sales goals. I think there is a goal of promoting 1.8 million cars by 2024. How has that changed? And what are your new goals now?
MASAHIRO MORO: We’re going to announce our medium-term plan this, maybe this fall. Our purpose has not changed, however, due to the effect of COVID-19, we are reassessing our purpose of being a year later. Therefore, we are making an investment, continually investing in our technologies in the long term. And we are: we focus on managing the price of the Mazda logo and the price for our customers.
BRIAN SOZZI: How did you have to reconsider the grant experience?
MASAHIRO MORO: It’s wonderful because, right now, we’re — we’re running a lot – we’re running the construction of a new generation of branded services in the United States. We expect to open three hundred outlets by mid-2020. We are now 140 new open distributors. And the visitor revels in has changed radically. Recently, JD Power announced CSI 2020. And we’re very, very sophisticated.
ALEXIS CHRISTOFOROUS: Moro-san, last year you introduced the Mazda 3 subcompact, also the CX-30 SUV. Maybe the call isn’t as physically powerful as you expected. Do you think, in retrospect, that the price is too ambitious there?
MASAHIRO MORO: Well, there are several returns. And the Mazda 3s are a little complicated because of the industry. Subsegment has declined by 40% in the last five years. So we’re reevaluating that.
And the CX-30 is perfect. And I think our market percentage is excellent, and we present it in January. And, just in July, we released the most productive sales record on the CX-30. These next generation cars are highly valued through our target customers. And we took a look at the launch of a high-powered edition of the Mazda 3 soon.
BRIAN SOZZI: Moro-san, this year marks the centenary of Mazda. What will Mazda outline in the next 15 years?
MASAHIRO MORO: Well, I think our – a fundamental price is to provide a vehicle, which is a laugh to drive our target customers. That hasn’t changed. And Mazda, as a small business, seeks to offer exclusive prices to our individual customers. Technology will evolve over time, more electrification, yet our ridiculous price for smart design, Japanese dominance, the thrill of driving and our philosophy, you know, human centrality will continue to be Mazda’s unique philosophy and will make a big difference in comparison. to classic competitors.
BRIAN SOZZI: All right, let’s leave it there. Masahiro Moro, president and CEO of Mazda’s North American operations in the United States, Canada, Mexico and Colombia, thank you very much for taking the time this morning.
MASAHIRO MORO: Thank you.