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Yamaha sales 'could slump in Europe and North America'
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Written by Steven Thackery, 16/07/10
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Fewer European and North American motorcycle insurance policyholders will be purchasing Yamaha motorbikes as a result of the spreading debt crisis, the manufacturer has predicted.
Chief executive of the marque Hiroyuki Yanagi commented that the Greek financial crisis has impacted on sales since May, which could mean combined sales in North America and Europe may fall by 20 per cent this year, down from an earlier estimate of a ten per cent decline.
The company is set to shut five of its Japanese factories and one in the US, cutting 1,000 jobs this year to add to the 1,100 positions it slashed in 2009.
Last year Yamaha posted results which showed sales fell by 45 per cent in North America and 25 per cent in Europe. These combined markets accounted for 25 per cent of the manufacturer's global motorcycle revenue in 2009, falling from 31 per cent the previous year.
However, the Indian market is still going strong. At the beginning of July, India Yamaha Motor posted a 32 per cent increase in its total sales the previous month, shifting 28,155 units compared with 21,278 units in June 2009.
"It is a sense of pride to witness Yamaha's growing foothold in the Indian two-wheeler industry," India Yamaha Motor director and chief sales officer Koji Arai commented.
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