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SUZUKI: STILL REFRESHED

The second year of Suzuki Motor Corporation’s motorcycle business reorganisation has delivered modest dividends again in annual results to 31 March 2024. BDN financial editor Roger Willis reports.

Turnover rose by 10.1% to £1.879bn. Operating profit was 33% up to £119.7m. Operating margin reached 10.6%, improving from 8.8%. As usual, biggest revenue source was Asia, rising by 11.7% to £949.9m. Within that, India grew by a ballistic 36.8% to £621.1m and was credited with much of the operating profit boost. Europe’s contribution improved by 19.6% to £240.2m. North America was just 2.3% higher at £251.4m.

Suzuki’s motorcycle production was static on 1.914 million units. Only 101,000 of these were made in Japan. Global unit sales rose by 2.4% to 1.912 million. Indian consumption climbed by 20.4% to 891,000. Asia, excluding India, fell by 11.9% to 702,000. Within that, China was 8.4% down to 394,000 and the Philippines dropped by 16% to 164,000. Elsewhere in emerging markets, Latin America was 3.8% down to 191,000.

In the more profitable developed world, European sales increased by 27.4% to 39,000. But North America declined by 5.3% to 30,000 and Japanese domestic numbers fell by 15% to 39,000.

Forecasts for its new 2024/2025 fiscal year show Suzuki is anticipating production to be 1.2% lower at 1.89 million units and sales 1.1% down to 1.892 million. The good news will be a 2.4% sales rise for Europe to 40,000 and North America improving by 10.6% to 33,000. However, Asian sales are likely to fall by 1.2% to 1.574 million.

Yen-Sterling currency translation at forex rates applicable on 13 May

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