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Automobiles

Suzuki posts 96% net profit drop as India car sales plunge

Revenue in Q1 falls by more than half after nationwide lockdown

Suzuki posted a 15 billion yen "coronavirus-related loss" as factories were forced to shut down after their host countries imposed lockdowns. (Photo by Kei Higuchi) 

TOKYO -- Suzuki Motor on Monday said its net profit for the April to June quarter slid 96% from a year earlier to 1.7 billion yen ($16 million), due to poor sales in India.

Revenue fell 53% on the year to 425 billion yen. Sales in Asia excluding Japan, including its key Indian market, fell 76% to 105 billion yen. Its Asia business excluding Japan swung to a 6.7 billion yen operating loss.

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