Suzuki Motor Corp. reported first quarter net sales of $852.47 million (JPY$120.9 billion), a 13.7% increase over the same time period a year ago. Operating profit was $704.64 million (JPY$99.8 billion), a 25.3% increase compared with $525.26 million (JPY$74.5 billion).
Suzuki said in a statement that overall sales “increased due to price increase in response to inflation, improved mix from the introduction of new SUVs in India, increase in sales volume owing to mitigating of the impact of production reduction due to semiconductor shortage, and impact on foreign exchange rates.”
The increase in operating profit was attributed to increased sales volume, impact on foreign exchange rates, improvement in change in mix/price and cost-reduction efforts.
Marine sales decreased in the first quarter due to lower demand for outboards in Europe and the United States. Net sales in the segment were $235.54 million (JPY$33.4 billion), which translated to operating profit of $64.9 million (JPY$9.2 billion).
The breakdown of marine sales is as follows
• Japan: $1.9 billion (JPY$267.2 billion)
• Asia: $4.09 billion (JPY$580.1 billion)
• India $3.5 billion (JPY$496.2 billion)
• Europe: $1.1 billion (JPY$157.7 billion)
• North America: $231.7 million (JPY$30.3 billion).
