Yamaha Motor Co. has a downbeat outlook for its motorcycle sales in North America this year, projecting sales will drop 4.7% to 60,000 units, according to its earnings report yesterday. During the fiscal year ended Dec. 31, 2019, motorcycle sales dropped 6.3% to 63,000 units year over year.
From a dollar perspective, sales fell to $385.5 million, compared with $413.7 million during the same prior-year period. Yamaha did not cite a reason for the sales decline, but other OEMs, such as Harley-Davidson noting a softness in the U.S. motorcycle market during its fourth quarter earnings reports.
While motorcycle sales fell, the OEM experienced growth in its recreational vehicle business, which consists of UTVs, ATVs and snowmobiles. Global sales increased 1.5% to $706.3 million YoY. Yamaha did not break down the numbers by vehicle segment or territory but did note that the increase in unit sales of ATVs and snowmobiles in North America led to increased net sales and reduced losses.
Additionally, Yamaha’s loan portfolio rose 9.7% to $2.1 billion YoY. The OEM forecasts that the portfolio will increase further in 2020, climbing to $2.9 billion, a 38% YoY increase. The Iwata, Japan-based company plans to expand the customer base and geographical regions covered in order to grow the business, according to a press release.