Suzuki Motor Corp. said Monday it logged a consolidated net profit of ¥40.62 billion for the April to December period, down 4.7 percent from the previous year after suffering a sales drop in India and damage from the strong yen and natural disasters.
In the nine-month period, the automaker also reported a group operating profit of ¥87.71 billion, down 5.1 percent, on sales of ¥1.80 trillion, down 6.7 percent.
At a press conference in Tokyo, Representative Director and Executive Vice President Toshihiro Suzuki said sales in India fell 85,000 units because of labor disputes that lingered into late October.
A rise in gasoline prices and the subsequent popularity of diesel vehicles in the country also took a toll on sales, he said.
“Looking at the global economy, the business environments in Europe and North America are also harsh. Given the situation, we’re aiming for sales proportionate to our size . . . and set the course for a brighter future,” said Suzuki.
For the full business year ending in March, the company maintained its forecast for a group net profit of ¥50 billion and operating profit of ¥110 billion.