Suzuki’s refreshed motorcycle range for European markets seems to be paying off. However, performance elsewhere was mixed by the end of Q3. BDN financial editor Roger Willis reports.
Nine-monthly global revenue to 31 December 2023 for the Suzuki motorcycle business grew by 5.9% to £1.433bn. Sector operating profit for the period was 16.6% up to £143m. Turnover highlights were a 16.7% increase to £175.9m in Europe and a 30.8% improvement to £463.6m in India. Asian revenue as a whole, including India, only rose by 7.9% to £720.5m. North American turnover declined by 6.1% to £190.9m.
Worldwide bike sales volume for the brand was just 1.7% higher at 1.445 million units. In the developed world, Europe led the field, 27.9% up to 28,000. North America fell by 9.7% to 23,000. Japanese domestic sales were 10.3% down to 30,000. India was the emerging markets star, with sales climbing by 19.7% to 657,000. Excluding Indian success, the rest of Asia slumped by 11.7% to 550,000. Within that, China fell by 6.1% to 316,000 and the Philippines dropped by 17.3% to 125,000. Elsewhere, Latin America was 6.2% down on 140,000.
During the three quarters of Suzuki’s fiscal year to date, motorcycle production volume virtually flatlined, only 0.9% up to 1.432 million units. Indian manufacturing increased by 27.9% to 719,000. The rest of Asia accounted for a 17.5% reduction to 571,000. Domestic Japanese production sank by 4.8% to 79,000. A further 2000 machines were assembled in North America.
Latest full-year forecasts predict a 2.5% production decline to 1.867 million units, versus 1.7% sales volume growth to 1.899 million. Asian markets should be responsible for 1.584 million of those, 3.1% up. North America and Japan will incur modest losses, while Europe should be 25.8% up to 39,000.
Yen-Sterling currency translation at forex rates applicable on 7 February