Yamaha Motor Corporation increased North American revenue 6.9 percent to 362.1 billion yen ($3.2 billion) during the first nine months of 2007, up from 338.6 billion yen ($3.0 billion) during the same period in 2006, the company reported in a document Oct. 30.
Net profit for the entire company reached 67.5 billion yen ($588.5 million) for the nine months ended Sept. 30, 2007, up 13.2 percent compared to 59.6 billion yen ($519.6 million) in net profit during the same nine months in 2006. Net revenue for the recently ended nine-month period totaled 1.335 trillion yen ($11.6 billion), up 13.6 percent from net revenue of 1.175 trillion yen ($10.2 billion) during the same period last year.
North America generated 27.1 percent of the company’s overseas sales.
In the United States and Canada, Yamaha sold 148,000 motorcycles through the third quarter of 2007. While that volume is slightly lower than in 2006, the bikes were valued at 108.2 billion yen ($943.6 million), a slight increase from 107.0 billion yen ($933.1 million) in the same period one year ago.
Marine product sales in the United States decreased from the previous third quarter, reflecting a drop in outboard motor sales due to shrinking demand resulting mainly from high oil prices amid the economic slowdown, Yamaha said. Marine product sales still top last year’s first nine months of sales, however, at 115.2 billion yen ($1.0 billion) from 106.5 billion yen ($928.4 million).
Increased demand for side-by-side vehicles in the United States drove increased overall power product sales for the company in North America. ATV sales decreased for the region, however. Yamaha sold 136.8 billion yen ($1.2 billion) in power products in North America through the first nine months of 2007, up from 122.3 billion yen ($1.1 billion) during the same period a year ago.
For more on Yamaha’s financial report, read the Nov. 15 edition of Powersports Business.