Suzuki says demand strong despite concerns

TOKYO:

Japan’s Suzuki Motor said on Friday it did not see demand for vehicles slowing at home or in its key market of India amid growing concerns about a global economic downturn.

The view from Masahiko Nagao, Suzuki’s Senior Managing Executive Officer, echoes the bullish outlook of other Japanese automakers, even though inflation and higher interest rates are fuelling uncertainty about the world economy.

Suzuki had an order backlog of about 200,000 vehicles in Japan as of the end of June, Nagao said, adding a more up-to-date backlog figure for India, where the company has the largest share of the four-wheel market, was about 350,000.

“Although we are concerned about global economic trends, orders are coming in very smoothly and demand is not declining at this point,” he said on an earnings call, adding the company would see an operating profit as long as it could keep producing the accumulated orders.

Published in The Express Tribune, August 6^th, 2022.

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