Suzuki and Mazda hiked their annual profit forecasts

Article by Christian Andrei, on August 29, 2010

As these Japanese carmakers are experiencing higher demand and have been successful at cutting costs, Suzuki Motor Corp. and Mazda Motor Corp. both raised their annual profit forecasts.

Automakers all around the globe have cut fixed costs and boosted production efficiencies to cope with the global economic slowdown. Government incentives also boosted the sales of fuel-efficient cars.

Suzuki, owned 19.9% by Volkswagen AG due to a deal made in December, has profited from strong sales in India's fast-growing market, where it is the top player through subsidiary Maruti Suzuki.

For the entire year of 2010 to March, Suzuki raised its operating profit outlook to 50 billion yen ($558.2 million) from 40 billion yen. However, this figure falls short of the consensus of 66 billion yen from 14 analysts surveyed by Thomson Reuters I/B/E/S/.

A Suzuki spokesman said that the company has a very cautious outlook for the January-March quarter due to concerns related to the yen rate and an unclear economic outlook."

The spokesman added that it considers the heavy reliance on India's market as a risk. Suzuki, which sells the popular Swift and Alto hatchback cars, reported a 17.99 billion yen ($201 million) operating profit for October-December, compared with a 5.78 billion yen profit a year earlier. This is actually roughly in line with market expectations.

Topics: suzuki, mazda, profit

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

In the minivan segment, the 2017 Chrysler Pacifica is already impressive in terms of fuel economy figures – as rated by the United States Environmental Protection Agency. In fact, the...
by - December 2, 2016
Having a blacked-out Bentley Mulsanne Speed is already menacing by itself but by naming it as the Bamford X, it became all the more imposing. This model was made by...
by - December 2, 2016
We have good news for those who are waiting for the latest version of the Mazda CX-5 compact crossover. It was just unveiled in November at the 2016 Los Angeles...
by - December 2, 2016
Those familiar with racing know that Marco Wittmann’s win during the 2016 Deutsche Tourenwagen Masters held last May was noteworthy as it was his second title in four seasons. In...
by - December 2, 2016
Volvo has revealed that while its products are used by a number of police organizations around the world, it will be the Swedish police that will get the first chance...
by - December 2, 2016
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries