Suzuki earnings slide 32pc

Suzuki Motor Corp yesterday reported a 32 per cent fall in second quarter operating profit, its smallest in nearly three years, as the carmaker was stung by a slowdown in domestic output and a slump in India, its biggest market.

Japan’s fourth-largest carmaker posted an operating profit of 55.9 billion yen (RM2.13 billion) for the July-September quarter, its weakest profit since the 2016 year-end quarter, but above a mean forecast for 44.87 billion yen from nine analysts, according to Refinitiv data.

Last month, Suzuki slashed its full-year operating profit forecast by nearly 40 per cent to 200 billion yen — a four-year low — as it took a hit from measures to improve its final inspection system for cars sold in Japan, and slowing demand in India.

India is a key market for Suzuki, which accounts for roughly half the passenger vehicles sold in India through a majority stake in the country’s largest carmaker, Maruti Suzuki India Ltd.