Suzuki Motor Corporation has released its July 2024 production, sales, and export figures, revealing a mixed performance across global markets.
Production Highlights:
- Global production stood at 293,820 units, reflecting a slight decline of 0.2% year-on-year, marking the second consecutive month of reduced output. Despite this, January-July 2024 production totaled 1,970,002 units, a 4.7% increase compared to the same period last year.
- Japan’s production rose by 8.9% year-on-year to 89,390 units in July, continuing its growth streak for the sixth straight month, driven by increased demand both domestically and for exports.
- Overseas production, however, saw a decline, with a 3.7% drop to 204,430 units, mainly due to reduced output in Hungary and Indonesia. India’s production also slipped by 0.6% to 185,577 units.
Sales Performance:
- Global sales fell by 2.2% year-on-year to 258,009 units, breaking a seven-month streak of growth. Nonetheless, sales for January-July 2024 rose by 7.9% to 1,927,613 units.
- In Japan, sales continued to rise, with 59,198 units sold in July, an 8.1% increase, marking seven consecutive months of growth. Minivehicle sales also surged, growing by 7.1%.
- Overseas, sales experienced a dip of 4.9% to 198,811 units, largely due to a 9.3% drop in India, despite positive growth in Pakistan and the Middle East.
Export Surge:
- Suzuki’s exports climbed by 1.3% year-on-year to 17,738 units in July 2024, marking the fourth consecutive month of growth. The increase was primarily attributed to a rise in CKD exports.
While Suzuki’s domestic production and sales remain robust, challenges in overseas markets, particularly in India, contributed to a slight decline in global figures for July 2024. However, the company’s strong export performance offers a bright spot amidst these mixed results.
