Suzuki tripled its quarterly operating profit

Article by Christian A., on August 29, 2010

As sales climbed in its main Indian market, Suzuki Motor Corp. was able to triple its quarterly operating profit. Suzuki, which is 19.9% owned by Volkswagen AG and is Japan's fourth-biggest carmaker, raised its annual forecasts closer to market expectations.

The global shift in consumer preference toward minicars and subcompacts has benefited Suzuki and Hyundai Motor Co.

The shift to small cars is partly due to government incentives on purchases of environment-friendly cars. Subsidiary Maruti Suzuki, India's top carmaker, said in January that its third-quarter net profit had more than tripled.

Suzuki, which holds 54.2% in Maruti, considers India as its single-biggest market. VW took its stake in Suzuki in December 2009. For October-December, Suzuki reported a 17.99 billion yen ($201 million) operating profit, compared with a 5.78 billion yen profit a year earlier.

This result actually falls short of the average estimate of 19.40 billion yen from two analysts polled by Thomson Reuters I/B/E/S/.

Suzuki, known for its Swift and Alto hatchbacks, raised its operating profit outlook for the year ending in March from 40 billion yen to 50 billion yen. Consensus forecasts from 14 analysts put Suzuki's operating profit for the year at 65.91 billion yen.

If you liked the article, share on:

Topics: suzuki, profit

Comments

Recommended

We’re willing to bet that the Bentley Bentayga is not the first thing that comes to mind for most people who are into off-roading and outdoor activities. It just doesn’t...
by - November 23, 2017
The other day, it was confirmed that Volvo will finally bring the XC40 to US soil, where it will first make an appearance at the 2017 Los Angeles Auto Show....
by - November 23, 2017
There is no question that the new BMW M5 (F90) high performance sports sedan is more powerful, faster and more enticing than the previous model. But for interested customers in...
by - November 23, 2017
Following the Tesla Roadster’s electrifying revelation on Thursday, Musk’s highly ambitious goals have skyrocketed when he tweeted about his future plans for the new sports car. Well, kind of. The...
by - November 23, 2017
Earlier in November at the 2017 SEMA Show in Vegas is when Hennessey unwrapped the Venom F5 to all of us. But it was actually first introduced as a concept...
by - November 22, 2017
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