Reduced North American sales of new powersports units and negative exchange rates led to a drop in revenue and net income for Yamaha Motor Co. in its recent quarter.
The manufacturer reported a near 4 percent drop in sales and 36.1 percent decline in net income for its third quarter, which ended Sept. 30.
Yamaha’s North American sales of motorcycles, marine products and power products, which includes ATVs and side-by-sides, all fell compared to a year ago.
Motorcycle sales in North America through the first three quarters fell 21 percent to 117,000 units.
Yamaha, like the other metric motorcycle manufacturers, has repeatedly decreased its motorcycle exports this year. In fact, Yamaha decreased motorcycle exports in June, July and September compared to the prior year.
The net sales of Yamaha’s power products units in North America in the third quarter dropped 24 percent to more than $1 billion.
Marine product sales in North America dropped 28.3 percent, with the company noting reduced demand for large outboard motors.
Worldwide, Yamaha did increase the number of motorcycles it sold. The company’s sales in Asia increased by 16.3 percent, reflecting growth in Indonesia and Thailand. Motorcycle sales also expanded in Brazil but dropped in Europe by 11 percent.
Overall, Yamaha reported $13 billion in sales in its third quarter report and a net income of $439 million.
Yamaha also noted it spent more than $692 million in investing activities, including expanding its manufacturing capacity in Asia and Latin America.
Yamaha Motor Co. said it has not changed its forecasted results for its fiscal year, expecting sales to fall by 2 percent and net income to drop by more than 36 percent. PSBClick here for reuse options!
Copyright 2008 Powersports Business