Mazda Wagon Sees Sales Jump

09/05/96

The Associated Press has reported that Mazda Motor Corporation announced that sales of its new Demio compact wagon have exceeded expectations. The Demio is the automaker's first model since Henry Wallace took over as the corporation's president. Wallace is a former executive of Ford, which owns a 33.4 percent controlling interest in Mazda,

Mazda said it received 7,000 orders during the Demio's first week of sales in Japan. Mazda had set a sales target of 5,000 for the Demio's first month. The Demio is a smaller, cheaper car targeted at younger drivers. Mazda is not selling the Demio in the U.S., and it is the company's only new model.

Mazda turned its first annual profit in two years during its latest fiscal year. The automaker has been struggling with bulging inventories, lagging sales, and huge investment costs.

Paul Dever -- The Auto Channel