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Suzuki logo in Bangkok on July 4, 2019. Photograph by Atheet Peraungmita – Reuters
Suzuki Motor Co. announced Monday that its first-quarter operating profit fell by 46.2%, penalized by a drop in production in Japan as the company improved its test systems and demand in India had fallen sharply.
The fourth-largest Japanese automaker achieved operating profit of 62.7 billion yen ($ 592 million) for the period from April to June, down from 116.5 billion yen in April. Last year and below the median forecast of 69.09 billion announced by eight badysts, according to Revivetiv.
Suzuki has confirmed its forecast for an annual operating profit of 330 billion yen, up 1.7% from March 2019.
The company has met the expectations of a slight increase in car sales during the year, while conceding that it may have to lower its forecasts in the coming months, its sales having suffered from the slowdown in growth economic growth and tightening of emissions regulations.
Prepared by Mohamed Moataz for Arabic – Edited by Hala Kandil
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