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Powersports Business • March 2025 • 9

Yamaha Motor Corp . has announced its consolidated business results for the full 2024 fiscal year . The Japanese manufacturer of powersports products revealed its revenues were 2,576.2 billion yen ($ 17 billion USD ), an increase of 161.4 billion yen ($ 1.0 billion USD ) or 6.7 % compared with the previous fiscal year .

The company says it sold more units at higher prices per unit for models sold in Brazil and India in its core motorcycle business in 2024 .

As for operating income , after recording the effects soaring prices had on raising labor costs and other selling , general , and administrative ( SG & A ) expenses ; expenses linked to evaluating Yamaha ’ s business structure , such as inventory valuation reductions and impairment losses on certain fixed assets in the SPV and RV businesses ; the final figure for 2024 was 181.5 billion yen ( a decrease of 62.4 billion yen or 25.6 %).

“ Our consolidated results for fiscal 2024 set new records for revenue , but operating income declined for the first time in four years ,” says Katsuaki Watanabe , president and CEO of Yamaha Motor Corp .

“ Supply of semiconductors improved and helped our supply of premium segment models recover , but at the same time , the demand for outdoor recreation that boomed during the Covid pandemic has largely settled down in developed markets , so we worked to adjust to suit supply and demand in the Marine Product , Recreational Vehicle ( RV ), and Smart Power Vehicle ( SPV ) businesses .”

He says 2024 was the last year of its Medium-Term Management Plan , where the company worked toward reeling in costs .

“ As a result , we met our companywide targets for each financial indicator of growth and profitability ,” Watanabe continues . “ Briefly covering each segment , our core businesses could generate stable profits , but adverse market conditions impacted our growth businesses , and their growth rate suffered . Further , with new businesses , we made progress by launching new businesses and companies but unfortunately did not reach our revenue targets .”

For the full consolidated fiscal year , the U . S . dollar traded at 152 yen ( a depreciation of 11 yen from the previous fiscal year ) and the euro at 164 yen ( a depreciation of 12 yen ).

LAND MOBILITY ( POWERSPORTS ) Revenues were 1,715.4 billion yen ( an increase of 130.1 billion yen or 8.2 % compared with the previous fiscal year ), and operating income was 85.5 billion yen ( a decrease of 42.0 billion yen or 33.0 %).

Demand grew in Europe ’ s major markets for the motorcycle business in developed markets . Unit sales increased in Europe and in the United States , resulting in higher shipments overall than in 2023 .

Unit sales in emerging markets went up , primarily driven by higher demand in India and Brazil , and the increased unit sales exceeded 2023 ’ s performance . As a result , the entire motorcycle business recorded higher unit sales .

Revenues for the motorcycle business went up due to the higher unit sales and higher prices per unit in Brazil and India . For operating income , while the improved supply of premium segment models in emerging markets led to higher unit sales , soaring prices elevating labor costs , and higher SG & A expenses from provisions for product warranties and other payments , all resulted in profits roughly on par with last year , according to the company .

With recreational vehicles ( all-terrain vehicles and ROVs ), market demand and shipments fell below 2023 ’ s numbers , resulting in lower revenues .

The company reports that operating income , lower unit sales , a worsening model mix , higher marketing and promotional expenses accompanying the intensifying competition , impairment losses on fixed assets , and other recorded expenses resulted in lower profits .

For the Smart Power Vehicles business , i . e ., electric wheelchairs , electrically power-assisted bicycles ( eBikes ), and their drive units ( e-Kits ), unit sales of eBikes in Japan surpassed 2023 ’ s numbers . However , in Europe , the main market for Yamaha

Motor e-Kits , sluggish demand has led to prolonged market inventory adjustments ,

On average , I check my reports six times a day . This helps me keep track of shop supply costs , technician hours , repair orders that are cashiered , and the gross profit for the day .

Tristen Davis Service Manager | Sport Durst Powersports Durham , North Carolina

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