Yamaha Motorcycle Company Experiences Economic Woes
Visor Down-May 10, 2010-According to this article Yamaha knew that 2009 was going to be a tough year, predicting a loss of 182 billion yen. Unfortunately, the actual numbers are significantly worse, with an actual net loss of 216.1 billion yen. This makes Harley-Davidsons losses appear small. Why is this happening? Worldwide bike sales have dropped nearly 21%- with the biggest hits coming in the core markets of the U.S., down 46% in Europe, which has dropped by more than 33%. Yamaha is also suffering losses with regard to its marine products. Yamaha plans to close 7 of its 21 factories and slash an extra 1,000 jobs on top of the 1,700 jobs its already cut. The majority of these job cuts will be in the firms higher-end bike factories.
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