Profit drop of 96 percent at Suzuki in the second quarter NOW

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In the second quarter, Suzuki saw its profit drop by 96 percent to 1.7 billion yen, or 13.6 million euros. Sales fell by 53 percent to 425 billion yen, the Japanese brand said on Monday.

Suzuki was particularly affected by the corona-related lockdown in India, where the Maruti Suzuki branch is the market leader.

Maruti Suzuki recorded a quarterly loss of 2.67 billion rupees (30.35 million euros), which reflected in the parent company’s results. Suzuki’s European operations were also loss-making in the past quarter. In this part of the world, the brand lost 15 billion yen.

Suzuki is not yet making any statements about its expectations for the second half of the year. The uncertainty is still too great for that, because the corona crisis is not yet over.

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