In a mixed performance report for August 2024, one of Japan’s leading automakers Suzuki announced a year-on-year decline in both global production and sales. Despite a decrease in key regions like India and Europe, Japan’s domestic market remained a stronghold, driven primarily by robust sales of minivehicles.
Production Overview:
- Global Production: Total global production for August reached 254,885 units, representing 97.9% of the previous year’s output. This marks the third consecutive month of declining production. Despite this, year-to-date production from January to August increased by 3.9%, totaling 2,224,887 units.
- Japan Production: Domestic production dropped 5% year-on-year, marking the first decline in seven months, with 71,979 units produced. However, cumulative production from January to August still saw an 8.8% rise, reflecting strong overall performance earlier in the year.
- Overseas Production: Overseas production fell slightly to 182,906 units, down 0.9% from last year, making it the third consecutive month of decline. Production in India reached a record high for August, up 2.1%, but this was offset by significant decreases in other countries, including Pakistan and Hungary.
Sales Performance:
- Global Sales: August sales reached 248,930 units, down 5.1% year-on-year, marking the second consecutive month of decline. Nevertheless, year-to-date sales increased by 6.3%, totaling 2,176,556 units.
- Japan Sales: Japan continued to perform strongly, with sales rising 1.6% year-on-year to 48,815 units. Minivehicle sales were particularly strong, up 2.1% for the eighth consecutive month. However, sales of standard and small vehicles dipped by 1.2%, the first decline in eight months.
- Overseas Sales: Overseas sales fell by 6.6%, with 200,115 units sold. India experienced a 8.3% decline in sales for August, while the “Others” category, including regions like the Middle East, showed resilience with a 1.8% increase in sales.
Exports:
- August Exports: Exports decreased by 10.5% year-on-year to 12,909 units, ending a five-month streak of growth. This decline was attributed to reduced exports to Europe. However, exports for the January-August period remained strong, growing by 8.1% to 155,866 units, with even stronger performance from April to August, which saw a 15.6% increase.
Overall, while the automaker faces challenges in global markets, particularly in production and sales outside Japan, its domestic market and export growth earlier in the year suggest underlying resilience amidst an evolving automotive landscape.
