Exports joy for Asian carmakers

Suzuki plans to increase production in India, Pakistan and Hungary

A strong growth in exports has helped Asian carmakers to report rising sales and profits.

Japanese carmaker Suzuki has predicted a record full-year performance, after its exports were lifted by a weak yen and strong sales in India and Europe.

Suzuki said operating profit rose 19.3% to 67.83bn yen ($580m; £303m) in the six months to the end of September.

Meanwhile South Korea's carmakers also saw their figures boosted by healthy exports, with October's sales up 5.8%.

But the nation's biggest carmaker Hyundai saw its sales fall - which it put down to extended public holidays in October.

Expansion

Suzuki, the fourth-largest Japanese carmaker by market capitalisation, has benefited from a global move - on the back of high fuel prices - away from petrol-guzzling vehicles towards smaller cars.

Suzuki has plans to add production capacity in India, Pakistan and Hungary over the next few years.

The firm now expects consolidated operating profit to be 124bn yen for the year to 31 March compared with a previous forecast of 115bn yen. The new profit figure would represent a 9% rise from last year.