Suzuki Motor Corporation reported an almost 32% drop in operating profits to JPY55.9bn in the second quarter of the current fiscal year (July-September) from JPY88bn a year ago.
The Japanese automaker cited weaker domestic output and a sharp sales decline in India, its largest global market, and in Indonesia as the main reasons for an almost 10% revenue decline to JPY847.9bn from JPY 941.9bn a year earlier.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
In the first six months of the current fiscal year (April-September), operating profit fell by over 40% to JPY118.6bn from JPY198.5bn, as global vehicle sales fell 17% to 1.41m units, with sales in India falling by over 26% to 675,000 while sales in Japan fell by 4.6% to 332,800. Motorcycle sales were 0.2% higher at 126,500 units in the six month period, however.
The company also blamed a poorer model mix, adverse exchange rates, higher expenses and other contributing factors for the sharp profit decline.
