Tokyo : Japan’s Suzuki Motor on Monday announced a 68 per cent jump in operating profit in the third quarter due to ongoing growth in automobile and motorcycle sales in India, its biggest market, as well as in Europe and at home.
Operating profit at Japan’s No. 4 automaker came in at 86.9 billion yen ($790.36 million) in October-December, jumping from 51.85 billion yen a year earlier. Suzuki kept its forecast for full-year operating profit to 300 billion yen, up 33.3 percent on the year, based on an assumption that the yen will trade around 111 yen to the U.S. dollar and around 1.70 yen to the Indian Rupee, Reuters reported.
Suzuki, which makes the Baleno compact hatchback and the Vitara Brezza compact SUV, said global automobile sales rose 9.3 percent in Oct-Dec, as demand continued to rise in India, Europe and Japan. Motorcycle sales rose 14.2 percent in the quarter, led by strong demand in India, China and other Asian countries. Suzuki dominates the Indian market through its majority stake in Maruti Suzuki India. Boosted by strong sales in India, Suzuki has been one of the most upbeat about its prospects for full-year operating profit among Japanese automakers, many of which are seeing sales growth curbed by slowing demand in the US.
