Suzuki Reports Q1 2012-2013 Results

Suzuki reported a 11.7% decrease in motorcycle sales over its first quarter and an operating loss of 3.5 million yen (US$44.5 million) from its motorcycle division.

In the quarter ended June 30, 2012, Suzuki sold 573,000 units, down from 649,000 units sold in the same quarter in 2011. Sales were down in most regions though unit sales in the U.S. were up a nearly negligible 1.5% to 15,000 units.

European sales in particular took a hit, with Suzuki selling 18,000 units in the second quarter, a 30.9% decrease from 26,000 units sold in the same quarter last year. Suzuki also saw a drop in sales in the Asian market, selling 466,000 units in the second quarter, a year-on-year decrease of 6.6% from 499,000 units.

Motorcycles sales produced 59.5 billion yen (US$757.0 million) in revenue, a 21.1% decrease from 75.4 billion yen reported in the same quarter of 2011. As a result, Suzuki’s motorcycle business is back in the red with an operating loss of 3.5 billion yen compared to a profit of 0.3 billion yen reported in the first quarter last year.

Overall, Suzuki Motor Corp. reported a net income of 24.5 billion yen (US$311.7 million) thanks mainly to a 10.5% increase in automobile sales.

[Source: Suzuki]

By Dennis Chung