AutoBeta(AutoBeta.net)02/25 Report--

On February 24th, Japanese carmaker Suzuki Motors announced a series of personnel changes, including directors, executives, attendees and general managers. It was announced that Suzuki Osamu, the current Suzuki president, will resign as chairman and chairman and retire at the general meeting of shareholders in June 2021.

Data show that Suzuki Osamu was born on January 30, 1930 and is now 91 years old. Suzuki Osamu joined Suzuki in 1958, mainly responsible for production management and business planning. He became president of Suzuki in 1978 and chairman in 2000. He resigned as CEO in 2016 because of rumors of fraud, but still served as chairman. As a result, Suzuki Osamu has been chairman for nearly 40 years.

Suzuki Motors, founded in 1920, was one of the first Japanese car companies to enter the Chinese market. In May 1993, Changan Automobile Co., Ltd. and Suzuki Co., Ltd. of Japan jointly established Chongqing Changan Suzuki Automobile Co., Ltd., and launched popular models such as Otto and Swift. However, Suzuki Motor has not achieved satisfactory results in its 25 years in China. When the domestic market began to launch larger car products, Suzuki Motors, known as the "king of cars", did not follow up in time and eventually "lost to China".

Sales of Changan Suzuki have been declining since 2012. In 2011, the cumulative sales of Changan Suzuki reached 220000, which can be said to be the peak since Suzuki entered China. In 2012, Changan Suzuki sales fell 26.42 per cent year-on-year to 170000 vehicles. Since then, in addition to the year-on-year growth in 2014, Changan Suzuki sales have continued to decline. Overall sales of Changan Suzuki fell to 115300 in 2016, 83900 in 2017 and only 34500 in 2018. In September 2018, due to continued losses in performance, Suzuki eventually transferred its 50% stake in Changan Suzuki to Changan Automobile at a symbolic price of 1 yuan, and Changan Suzuki became a wholly owned subsidiary of Changan Automobile from a joint venture.

After withdrawing from the Chinese market, Suzuki switched to the Indian market. But Suzuki is also having a hard time in the Indian market. Suzuki achieved operating income of 215.1 billion yen in fiscal 2019, down 33.7% from a year earlier, while net profit attributed to the parent company was 134.2 billion yen, down 24.9% from a year earlier, according to the financial report. Suzuki forecasts operating revenue of 160 billion yen in fiscal 2020, down 25.6% from a year earlier, while net profit attributable to the parent company is 110 billion yen, down 18.0% from a year earlier.

Suzuki, which lost the Chinese market and moved to the Indian market, coupled with the pressure of market competition and the impact of the COVID-19 epidemic, Suzuki's performance shrank sharply.

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