Suzuki reported a 22.9% increase in net sales from motorcycles for the six month period ended Sept. 30, 2013, despite a 10.3% decrease in motorcycle sales volume over the same period.
According to Suzuki’s second quarter financial report, the Japanese manufacturer sold 1.056 million motorcycles in the first half of the 2013-2014 fiscal year. This marks a drop from 1.177 million motorcycles sold in the first half of the prior fiscal year.
At the same time, motorcycles accounted for net sales of ¥138.6 billion (US$1.395 billion) over the six-month period, up from the ¥112.7 billion reported the previous year. Suzuki credits this to increased net sales in Europe and North America.
Suzuki’s North American motorcycle sales declined to 24,000 from 25,000 from the first half, but have been holding steady at 10,000 in the second quarter. Sales in Europe also saw a decline to 30,000 units over the first half from 32,000 units.
Sales in Asia however declined by 12.1% to 848,000 units from 965,000 units. Suzuki reports decreased sales in India (11.3%) and China (-28.2%) but rose 13.7% in Indonesia.
Despite the increase in net sales, Suzuki’s motorcycle division still reported a net loss of ¥1 billion (US$10.1 million), though it is an improvement from the loss of ¥5.9 billion reported last year.
Overall, Suzuki reported a net profit of ¥51.7 billion ($520.4 million), thanks to a record operating income from its automobile business.
For the rest of the 2013-2014 fiscal year, Suzuki expects to sell 2.161 million motorcycles, a 6.5% drop from the 2.312 million motorcycles sold the previous fiscal year. Suzuki hopes demand will be buoyed by the introduction of new products such as the V-Strom 1000 and Burgman 125 and 200 scooters. Suzuki also expects a strong response to its expansion plans in Thailand.