Suzuki Motor Corp. on Thursday reported that its first-half net profit jumped 15 percent to a record 28.68 billion yen, thanks to strong domestic sales and cost-cutting.
During the April-September period, revenue rose 7 percent to 1.16 trillion yen, also a record.
The country’s largest minicar maker, 20 percent owned by General Motors Co., said the sales increase and cost-cutting efforts more than offset the negative impact of a stronger yen, which cost the firm 10.5 billion yen during the period.
At home, the company enjoyed solid sales of its Wagon R minicar and Chevrolet Cruise compact, which was jointly developed by GM. Sales of Chevrolet Cruise doubled year-on-year to 7,439 units during the period, the company said.
Its overseas operation was driven by strong growth at its production subsidiaries in India and Indonesia, the firm said.
Despite the strong first half, the company kept its initial full-year forecast, citing “a number of uncertainties” in the second half, including an unfavorable currency trend and murky outlook for the U.S. and Chinese economies.
Rising material costs are also a concern.
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