Aug. 11, 2008 – Yamaha reports mixed first half sales in U.S.
Yamaha Motor Co. reported mixed results for its fiscal first half from its U.S. retail sales.
The manufacturer saw increased sales for its motorcycles but reported decreased sales for its ATVs and side-by-sides.
Overall, Yamaha reported a net sales decrease from its worldwide operations of 6.6 percent compared to the year-ago period. Its overall net income dropped even more, down nearly 48 percent to $239 million. The company noted the negative impacts of foreign currency exchange rates and increases in the cost of raw materials.
For the United States, Yamaha’s retail motorcycle new unit sales grew 12.4 percent compared to a year ago to 109,000 units. Yamaha also said its U.S. motorcycle inventory has improved dramatically, down 35 percent from a year ago.
However, the company’s ATV sales in the United States fell 23.5 percent to 52,000 units. Yamaha’s side-by-side sales fell slightly, about 5 percent, to 18,000 units. The decrease in side-by-side sales follows several quarters of tremendous growth in that sector.
Yamaha’s Power Product segment, which includes the company’s ATVs and side-by-side units, saw revenue fall 29.2 percent from the year-ago period.
Sales for the company’s marine products segment also was down significantly in North America. The segment’s sales of $549.6 million represents a 28 percent drop from last year’s first half. Yamaha said PWC sales in the United States were sluggish.
Worldwide, Yamaha’s motorcycle revenue is down just more than 1 percent, with reduced sales reported in Europe and Japan. However, the company has seen favorable sales in Asia and in Latin America.
Looking ahead, Yamaha expects its fiscal full-year North American motorcycle sales to reach 174,000 units, which would be down from last year’s total of 197,000 but more than 5 percent above the company’s original expectations.
The company also expects its full-year, worldwide Power Product segment sales to fall nearly 19 percent to $1.9 billion.
Worldwide, Yamaha expects its worldwide net sales to drop slightly more than 2 percent for its full fiscal year. psb
