Right products, right time: Suzuki Motor’s focus on attractive but small, fuel-sipping models has paid off as the automaker posted a double-digit rise in quarterly profits.
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Suzuki’s operating profit rose 19% to 40.49bn yen ($US340.4m) for the April-June fiscal first quarter while net profit jumped 20% to 24.36bn yen. Revenue grew 17% to 894.53bn yen as overseas sales rises pushed the global total up 6.6% to 571,000 units, Reuters reported.
High fuel prices have brought buyers to Suzuki’s economical cars such as the Swift hatchback, particularly in Europe and South Asia, the news agency noted.
Suzuki left unchanged its annual forecasts for a slight rise in revenue and profits but market estimates expect it to exceed its operating profit forecast of 134bn yen for the year to March 2008 by 15%, Reuters noted.
However, Subaru car maker Fuji Heavy Industries reported a 67% plunge in first-quarter operating profit as vehicle sales fell in all of its main markets, the report added.
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