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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.

Suzuki, please come back and bring the Alto Works with you

The list of JDM vehicles we'd love to see imported into the United States keeps growing. But if there's one we could wish for in 2016, we dare say it's the one you see here. It's called the Suzuki Alto Works, and it looks like an absolute riot. The Alto, for those unfamiliar, is a tiny little Kei car. It rides on a 97-inch wheelbase and weighs less than 1,350 pounds, which makes it not only smaller than a three-door Mini, but also about half its weight. All it needs is a 660cc inline-three to pull it around the streets of Tokyo. And perhaps best of all, where the previous Alto adopted rounded, cutesy styling, the new model introduced in Japan a year ago takes a more squared-off, industrial design that looks much better to our round eyes. Suzuki made a punchy little Alto Turbo RS version (which you can scope out in the extra gallery below) that increased output to a still-puny 64 horsepower and 70 pound-feet of torque. And it won multiple awards for its compact, fun-to-drive nature. But now the Japanese automaker has made the Alto even more enticing with the new Works model. It's based on the aforementioned Turbo RS, but packs some key upgrades. Where the Alto Turbo RS was only available with an automatic, the new Alto Works can be had with a short-throw five-speed manual – driving either the front wheels alone or all four. Suzuki also boosted output modestly to 74 lb-ft, improved the throttle response, and recalibrated the steering for better accuracy. New 15-inch wheels are fitted to a retuned suspension with KYB shocks. It's all done up in a gunmetal finish with black trim, red-painted front calipers, and an interior with Recaro racing buckets, steel pedals, red stitching, and a boost gauge that changes color from white to red as it spools up. All of that can be had from only 1,509,840 yen, which may look like a lot, but translates to just $12,500 at current exchange rates. If only Suzuki still sold in the US market, because it does some of the best little hatchbacks around. And the new Alto Works looks like it'd be a hoot to drive.

Toyota and Suzuki are looking at an R&D partnership because they admit they're behind

The Chairman of Suzuki Motor Corporation, Osamu Suzuki, and the President of Toyota, Akio Toyoda, have convened at Toyota's Tokyo offices to declare plans to join hands regarding research and development. According to Toyoda, Toyota "hasn't been good at creating alliances," and its partnership with the small carmaker Daihatsu has been the most well-known collaboration so far. Perhaps the comment has a tinge of regret from Toyota and GM's NUMMI days in Fremont, especially as the statement released by Toyota says that "Toyota is conscious of the fact that it may be behind competitors in North America and Europe when it comes to the establishment of standardizations and partnership with other companies." But as different technologies advance at breakneck speed and it is difficult for companies both big and small to stay competitive, let alone ahead of the game, Toyota is accepting the need for collaboration. Toyoda referred to passenger safety, environmental issues, automated driving, and hydrogen technology, all of which are key challenges for any carmaker looking to stay relevant, and all expensive to experiment with. Spreading the cost over more vehicles should help. "We received an offer from Suzuki regarding collaboration possibilities on advanced and future technologies such as in information technology. Suzuki made a frank proposal to us, and in understanding that Toyota is facing the challenges which I had mentioned earlier, we thought that with the relationship between both companies, there is an opportunity for a business partnership to help solve such challenges. As such, we decided to explore such possibilities together," said Toyoda. In the future, Daihatsu will still be Toyota's tool in emerging markets, but now Toyota could have access to Suzuki's small-car know-how. Osamu Suzuki acknowledges that "Suzuki's current business focuses on minivehicles in Japan and India," as Suzuki withdrew from the US and Canada in 2013. A joint effort will help Suzuki remain relevant, and as a manufacturer of predominantly small vehicles it has been focusing on competitive pricing more than cutting edge technology. Related Video: