Suzuki grows 27% in Spain due to the price boom

The company sold more than 5,700 cars and more than 2,300 motorcycles in its last fiscal year.

The trend of general increase in automobile prices last year boosted the income of the Japanese company Suzuki in the Spanish market. Suzuki Motor Iberianits subsidiary in Spain, achieved a turnover of 127.2 million in the year.fiscal year 2022-2023 (until March 2023), a 27% increase, according to the latest accounts in the Regis

The trend of general increase in automobile prices last year boosted the income of the Japanese company Suzuki in the Spanish market. Suzuki Motor Iberianits subsidiary in Spain, achieved a turnover of 127.2 million in the year.fiscal year 2022-2023 (until March 2023), a 27% increase, according to the latest accounts in the Commercial Registry.

The increase in the turnover of Suzuki, which sells both motorcycles (16% of revenue) and cars (84% of turnover) in Spain, came hand in hand with the increase in registrations (it sold 5,700 cars and 2,300 motorcycles in the fiscal exercise).

The positive evolution of the company’s results in Spain, chaired by Juan Lopez Frade, was recorded in a growing market after the drop in sales due to the microchip crisis, which cut car production to a minimum. The lower availability of new cars for sale, which is now almost forgotten, skyrocketed the profitability of car brands, which sold less but earned more per unit.

The rise in prices and sales translated into a profitability advancementsince the net profit of Suzuki Motor Ibérica improved by 4.8% year-on-year, to 5.88 million, while the operating result rose 33%, to almost 5.7 million.

At the end of the fiscal year, the company had provisioned 1.69 million for campaigns, promotions and discounts for dealers. Of this total, 1.39 million were for cars (-10%) and 350,860 euros for motorcycles (-15%).

Looking ahead to the 2023-2024 financial year, the Japanese firm It hopes to improve its market share in Spain, although it will depend on the volume of vehicles it receives from its parent company and the capacity to transport them, due to the shortage of transporters.

 
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