Suzuki Reports Q3 2010 Results
Unit sales up but revenue down
Suzuki sold 975,000 units in the nine months ended Dec. 31 2010, up from 919,000 units in the same period of 2009. The increase came mainly from sales in the Asian market, which consists primarily of India, Indonesia and Pakistan. Sales were otherwise down in Europe, North America, Japan and other regions.
Despite the overall increase in unit sales, sales revenue totaled 186.3 billion yen (US$2.26 billion) over the first three quarters of 2010, a decrease from the 195.2 billion yen (US$2.37 billion) over the same period the year before.
Suzuki’s motorcycle arm operated at a loss of 7.1 billion yen (US$85.7 million) over the three quarters, the only segment that did not make a profit for Suzuki. On the positive side, it was an improvement on the 14.1 billion yen (US$171.6 million) loss Suzuki reported in the same period of 2009.
North American sales over the first three quarters totaled 13.0 million yen (US$157,900) in sales for Suzuki, down from 33.7 million yen (US$409,450) in the first three quarters of 2009. Unit sales totaled 13,000, a 69.7% decrease from 43,000 units in 2009.
There is some good news however. Suzuki sold 6,000 units in North America over the third quarter, an increase from the 3,000 units sold in the same quarter of 2009. A single quarter isn’t enough to signal a turnaround, but it is a start. Suzuki is also beginning to import new streetbike models again after not importing any new models in 2010, so the potential is there for Suzuki to grow in 2011.