Bloomberg reports that Mazda, the fourth largest automaker in Japan, is currently ahead of its larger rivals in the stock market. The company attributes its stunning success to news of its upcoming utility vehicles, the CX-7 (pictured) and CX-9.
"Mazda's earnings growth will finally outpace other automakers, attracting investors this business year and next,'' said fund manager Hiroyoshi Nakagawa. “Hopes for new models are also driving the stock higher.'' Nakagawa is with Societe Generale Asset Management Co. in Tokyo, which oversees some of Mazda’s shares.
Mazda’s stock, advancing 30% so far this year, is also ahead of other automakers such as Renault SA (25%) and BMW AG (24%). Only Volkswagen AG beat Mazda with a 40% growth.