Suzuki India reports sales growth despite challenging first quarter
Suzuki is betting on their Gixxers for sustained growth.
With a very challenging first quarter, brought about by global pandemic, motorcycle manufacturers anticipated a blow on the sales front. With temporary closures and suspension of factory operations, companies were trying to figure out to at least soften the blow for a little bit. However, for the biggest motorcycle market in the world, Suzuki India reported a more than modest growth for its fiscal year of 2020.
Suzuki and Royal Enfield are the only two manufacturers to report positive sales growth for the first quarter of 2020. Their fiscal year runs from April 2019 to March 2020 and for that period, they were able to sell 790,397 bikes translating to a 5.7 percent increase over the 747,506 bikes sold for 2019. They are known for producing the popular superbike Hayabusa GSX-R1300, and the 80’s retro revival of the Katana.
Koichiro Hirao was very pleased to report their growth and thanked their dealer partners and employees for their exceptional service, despite the trying times.
We are pleased to close this financial year on a positive note with 5.7 percent growth amid the precautionary measures taken in the wake of the Covid-19 pandemic. We attribute this growth to our dealer partners for their determination and exceptional support further translating into customer trust and love.
Hirao added, “At present, our first and foremost priority is to ensure the health and safety of the employees and all stakeholders. As the industry fights the Covid-19 pandemic by implementing shutdowns and taking precautionary measures, we believe that industry will overcome this difficult time and bounce back with positive growth in the coming months,”.
However, despite reporting on a positive note for the year 2020, Suzuki is still only the 5th largest manufacturer by sales volume in India. Suzuki still trails behind Bajaj, TVS, Honda, and Hero MotoCorp in a market that has an estimated 37 million motorcycles and mopeds. While globally, other motorcycle manufacturers are taking a turn for the worse, Suzuki is hopeful for the fiscal year 2021 and are placing their bets on the introduction of the Gixxer 250 series as well as the Access 125 and Burgman Street scooters to further drive their sales and give them more push to have a successful year ahead.
Tagged Under
Related Articles
-
Suzuki Motorcycles hits its 5 million unit production mark in India / News
Suzuki Motorcycle India Private Limited has officially produced 5 million motorcycles last July 13, 2020, after 14 years of operating.
-
Suzuki reveals future plans for electric two-wheelers / News
Suzuki’s VP of Marketing and Sales for India revealed to Financial express that we’ll see an electric two-wheeler from them when the market is ready.
-
Suzuki Motorcycles sell strongly at the start of 2019 / News
Suzuki reports its sales figures for the start of 2019, and the results are good for the most preferred underbone maker in the Philippines.
-
Motorcycle sales grew by 13% for H1 of 2017 per MDPPA / News
MDPPA reports a positive 1st half of 2017 with 13% sales growth.
Latest News
-
World’s first uncuttable metal could dispel would-be bike thieves / News
British and German engineers have developed an uncuttable metal inspired by the skin of grapefruit and shell of a mollusk that could be used for bike chains and locks.
-
Ducati’s motorcycle sales are down for the 2nd quarter of 2020 / News
Ducati releases its semi-annual sales report, grouped per category, shows that its sales figures are generally down for the second quarter of 2020.
-
Honda’s new patent reveals it's working on a new, sleek sports scooter / News
Honda’s patent for a futuristic-looking sports scooter from its Italian design studio emerges online looking nothing like the rest of its scooter lineup.