The stock of MAZDA MOTOR CORP (OTCMKTS:MZDAY) closed at $6.59 losing 0.90% in yesterday’s trading session. North Carolina and Alabama are the two places Mazda Motor Corp intends to set up the new $1.6 billion auto plant with Toyota. By 2021, the two business gurus are confident that they will have succeeded in manufacturing the new crossover sport-utility vehicle in the facility.
The new move has been praised by top analysts in the market who took the strong stand that business alliances were the way to go for those businesses that needed to thrive in the market. The new product is expected to have original advanced features.
According to reports emanating from Automotive News, Masamichi Kogai, the CEO of Mazda projected that the new SUV would turn out to be the best-seller. In his recent interview the leader outlined that as a company they were full of expectations. He said that they were going to dedicate all their efforts as well as mobilize a large chunk of their company resources towards growing their business in the U.S.
This move has been received quite well by market analysts who have been noticing the fast rate at which competition has been growing in the car manufacturing industry.
A number of news reporters tried pushing him to disclose more regarding the features associated with the new SUV. They wanted him to go beyond speaking about the mere fact that it was a totally new and different type of SUV. He declined to make further comments leaving them guessing.
Mazda’s spokesperson opined, “Mazda is planning to introduce its new SUV at a time when the Japanese automaker has seen sales decline in North America. Mazda expected to be generating annual U.S. sales of 400,000 vehicles by now.”
But one thing that is coming out clearly is the fact that it has witnessed a second straight year of decline and that is raising great concern among interested parties.