Suzuki Motor Corp’s motorcycle sales grew while its North American sales slumped in its past fiscal year, according to the company’s financial report.
The Japanese manufacturer’s motorcycle sales grew to more than 3.34 million units in its past fiscal year, which ended in March. That total represents a 9 percent increase over the prior year period. Suzuki is expecting a similar percentage rate increase for its coming financial year.
Sales in North America, which includes auto and powersports, totaled 405.7 billion yen ($3.9 billion), a decrease of 11.7 percent from a year ago. However, Suzuki’s North American sales in 2007 amounted to a nearly 17 percent jump from the previous year.
Revenue from motorcycle sales for the entire company grew to 592 billion yen ($5.6 billion), an increase of less than 1 percent over the previous year. In its three-year outlook, Suzuki is aiming to increase its motorcycle segment sales by nearly 5 percent to 620 billion yen.
For its recent fiscal year, the company produced more motorcycles and ATVs than the previous year. The total production of more than 3.3 million new units represents a nearly 7 percent increase over the prior year. North American production amounted to 20,000 ATVs, an 8.2 percent drop from the previous year. Suzuki is expecting to slightly cut back its North American production by 1 percent in this fiscal year.
Overall, the company’s sales rose by 10.7 percent over the prior year period. It’s the second straight year Suzuki has had a double digit percentage increase in its overall revenue. The company’s net income of 80.3 billion yen ($771 million) grew by 7 percent. The manufacturer also spent more on R&D in its last fiscal year. PSB
Copyright 2008 Powersports Business