Net sales for motorcycles in North America declined 10.7%, while the number of units sold fell 8.5% through midyear, the company reported today. Meanwhile, receivables from financial services in North America increased 12.5% to $2.1 billion.
Yamaha sold 32,000 units in North America, down from 35,000 units in the first half of 2018. Additionally, motorcycle net sales in North America declined to $2.1 billion from $2.3 billion year over year.
Global motorcycle sales were $46.9 billion, a decline of 1.5%. Yamaha blamed the decline on yen appreciation, noting that “operating income remained unchanged thanks to increased sales in Europe,” according to a press release.
For More Read: State Regulations Slow Rollout of Yamaha GAP Product
However, Yamaha experienced sales growth in its marine segment, which includes personal watercraft, boats and outboard motors. Marine sales in North America increased 11% to $1.1 billion year over year. That growth, along with higher sales in Europe, contributed to a 6.4% rise in marine sales globally, according to the release.
Yamaha forecast that net sales will drop 1.8% by yearend, to $15.7 billion. Operating income is expected to fall 6.0% to $1.1 billion, according to the release.