Mazda's delayed mid-term plans are expected to debut a new human-centric brand purpose and accelerate EV plans.
Mazda was supposed to announce its mid-term plan last spring. However, the high-level road map of the company's future was derailed due to a variety of factors beyond the Hiroshima firm's control. Executives are now revealing some of those plans ahead of their official announcement later next month.
Mazda wanted to make public its strategy earlier this year, but according to an unnamed executive that spoke with, the company held back due to market instability. Volatility came from a variety of factors, including shutdowns in China over COVID-19 cases, the war in Ukraine, continuing snags in the global supply chain and the EV tax credits included in the Inflation Reduction Act that were being debated in Congress at the time.
Some of the issues above have hit Mazda particularly hard. Sales are down 21% compared to September of last year,reports, in a market down only 13% overall. The good news is that output at factories is on the upswing."Now we are refilling inventory and performance is up," the executive toldThe article says Mazda will"beef up" its EV goals slightly with the new plan.
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