Yamaha reported a 1.2% decrease in motorcycle sales in 2013 but managed to increase its net sales revenue by 16.2%, thanks in large part to the depreciation of the Japanese yen.
According to the company’s 2013 fiscal report, Yamaha sold 6,014,000 motorcycles last year, down slightly from 6,090,000 sold in 2012. The good news however, is most of the sales decrease was limited to Thailand and Vietnam where the economy worsened in 2013, while Yamaha’s sales increased in nearly all other markets. Net sales topped 1.411 trillion yen (US$13.8 billion) in 2013, compared to 1.208 trillion yen in 2012.
The results in developed markets was especially positive for Yamaha. Business continues to struggle in Europe, which is also facing economic difficulties, resulting in a slight decrease to 162,000 motorcycles compared to 165,000 motorcycles sold in 2012. Yamaha more than made up for that decrease with growth in North America, where customers bought 76,000 motorcycles last year, compared to 71,000 motorcycles the year before. Sales were also up in Japan, increasing to 109,000 units from 94,000 units in 2012.
The news is even better when you consider when the sales took place. In North America, Yamaha’s motorcycle sales were actually down 1% over the first six months before rebounding with an 18% year-over-year increase in the second half. Meanwhile in Europe, sales were down 11% over the first half, but the second half of the year saw sales increase by 13% compared to 2012.
Motorcycle sales contributed to 928.2 billion yen (US$9.06 billion) in revenue compared to net sales of 798.7 billion yen in 2012. Most of that difference is due to the decreased value of the yen, inflating the value of sales in other currencies. Yamaha reports a net operating income of 8.4 billion yen (US$82.0 million) in 2013, compared to a loss of 200 million yen reported the previous year.
Overall, Yamaha Motor Company reports a net income of 44.1 billion yen (US$430.4 million) in 2013, compared to 7.5 billion yen in profit reported in 2012.
For 2014, Yamaha is boldly forecasting a 9.2% increase in motorcycles, predicting sales of 6,572,000 units worldwide, enough to reach the 1.5 . Yamaha expects sales in Asia to rebound, though it may not return to the levels seen in 2012. Yamaha predicts an impressive 32.6% growth in sales in India next year, primarily from increased scooter demand. In developed markets, Yamaha predicts an 11.4% growth in 2014, on the strength of new models including more motorcycles from its MT family (a.k.a. the FZ line for U.S. consumers.)
Visit the Yamaha R3 Forum
Yamaha confirms it plans to launch the production versions of the Tricity three-wheeled scooter and R25 sportbike (which we expect may become the R3 in developed markets) later this year. Yamaha will also continue to develop its MOTIV city car for further in the future.