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Suzuki posts 46% drop in first-quarter profit on slowing India demand

TOKYO — Suzuki on Monday reported a 46.2% fall in first-quarter operating profit, hurt by lower output at home as it improves its inspection systems, and falling demand in India, its biggest market. Japan's fourth-largest automaker posted an operating profit of 62.7 billion yen (GBP487 million) for the April-June quarter, down from 116.5 billion yen a year earlier and below a mean forecast of 69.09 billion from eight analysts, according to Refinitiv. Suzuki reaffirmed its forecast for full-year operating profit to come in at 330 billion yen, up 1.7% from the year ended March 2019. Suzuki, known for its Swift and Baleno compact models, is bracing for subdued growth this year in India, where roughly one in two cars sold carries its brand. The company stuck to a forecast for vehicle sales to increase slightly on the year, but conceded that it may need to trim its forecasts in the coming months as slowing economic growth and stricter emissions standards could dent sales. Slowing profit growth could hamper its ability to invest in and develop lower-emissions vehicles and on-demand transportation services necessary to survive the technological upheaval currently underway in the global auto industry. The automaker has long acknowledged that it cannot shoulder the costs of developing electric vehicles and self-driving cars on its own, and has turned to Toyota to supply Suzuki vehicles with its gasoline hybrid systems.

New investor allows Suzuki to fend off VW

After years of legal wrangling, the long-soured partnership between Volkswagen and Suzuki looks finally to be coming out of arbitration, according to Bloomberg. As a sign of the Japanese brand's improved fortunes, hedge fund Third Point LLC recently bought an undisclosed stake in the company. The investor reported seeing a major opportunity in the successful Maruti Suzuki business in India. As an investment, the only major problem that Third Point found with Suzuki was its legal battle with VW. "The company's greatest asset is its low-cost manufacturing process for vehicles for the emerging market consumer," the fund said in a letter, according to Bloomberg. Third Point reportedly also wants a seat on Suzuki's board, despite being a minority shareholder. The alliance between Suzuki and VW goes back to late 2009. In the deal, the Japanese brand was meant to get access to cutting-edge tech, and the German firm got a helping hand towards better establishing itself in India and Southeast Asia. Things didn't go as planned, though. Less than two years later, Suzuki's boss publicly derided the deal. Eventually, the allegations started going back and forth, and the two have been working out a way to untangle practically ever since. Among the biggest issue has been how to get back the 19.9 percent stake that VW purchased. According to Bloomberg, the arbitration is now technically over. With the divorce nearly final, the two sides are just waiting on a decision on how to split things up. Suzuki may even just buy VW's stake to get the shares back.

The Suzuki Jimny is even more awesome with these retro graphics

We already were pretty smitten by the Suzuki Jimny, the pint-sized 4x4 that, sadly, U.S. buyers can only look on from afar. It manages to remind us of its ancestors, the Suzuki Samari and Sidekick (small and basic 4x4s for which collectors and off-roaders are rapidly developing a keen appreciation). At the same time, it also rocks its own modern, mini-G-Wagen vibe. Now Suzuki has rolled out a batch of available decal packages for the Jimny, and we're digging it all the more. As surfaced by Motor1, Suzuki's catalog of accessories for the Jimny includes graphics packages in several different themes. The Offroad style includes tri-color red/gray/black stripes for the top and sides of the hood and under the rear side windows. The wide, lower-body REAL OFFROAD graphic is in red and black, while the finishing touch is a rhino decal for just above the Jimny badge on the tailgate. The Survival style appears to be some kind of camo pattern in black that is applied in a wide band along the upper bodysides. Heritage style ups the retro factor. It features red and gray upper body stripes on a white Jimny. Full the full look, you'll want the hard-shell exterior spare-wheel cover with matching graphics and the red mud flaps. The piece-de-resistance is the Revival style, which embraces the rad Eighties with a white/pink/black zig-zag squiggle on the doors and rear fenders that could have been lifted straight from a Samari. The matching hard-shell spare-wheel cover is a must. All of these prove yet again that the boxy, basic Jimny makes an ideal canvas for customization, and there are plenty more accessory items in that catalog. But we're not going to torture ourselves any further. Featured Gallery Suzuki Jimny decals and accessories Design/Style Suzuki SUV Off-Road Vehicles