Yamaha 2012 Annual Report Download - page 45

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Personal Watercraft Business
Sales recovering, led by North America
With the gradual recovery of the U.S. economy, total demand for personal
watercraft in 2012 grew 6.2%, to 78 thousand units.
At Yamaha Motor, sales of new models in the FX series showed
strong growth in all markets, and the VX series achieved solid sales with
each model leading its class. With a particularly significant recovery in
developed market sales, our total 2012 unit sales grew 36.1%, to 40
thousand units.
Jet propulsion sports boats continued to record solid sales, led by
North America, and we have begun increasing production capacity at our
facility in Tennessee. As a result, the personal watercraft business
recorded a 31.1% increase in net sales in 2012, to ¥37.8 billion.
We expect North American demand to continue to recover in 2013,
and are projecting an increase in total demand for personal watercraft.
Yamaha Motor will focus on sales promotions and building sales networks
to cultivate new customers, and we are aiming for further sales growth.
Boat Business in Japan
Preparing to enter the Chinese market
Japanese domestic boat demand, including pleasure boats, grew 47.9%
in 2012, to 5,096 units, on continued growth in demand for both utility
and fishing boats associated with reconstruction following the Great East
Japan Earthquake.
Domestically, Yamaha Motor maintained a solid pace of production
and shipments in response to demand from the fishing industry in areas
rebuilding from the earthquake, and in the pleasure boat market, we
launched the SRX and YF24 and acquired a market share of more than
20%. Through these efforts, 2012 unit sales in the boat business in
Japan rose 79.7%, to 3,351 units, with a 25.0% increase in net sales to
¥9.5 billion.
We estimate that Japanese domestic boat demand will contract
33.8%, to 3,373 units, in 2013 as demand related to earthquake
reconstruction ends, and at Yamaha Motor we are forecasting a 48.1%
decline in unit sales of Japanese domestic boats, to 1,739 units.
As part of our growth strategy, we have set up a joint venture with
Zhangzidao Group Co., Ltd., which is based in Dalian City, China, and are
making preparations to enter the 500,000-vessel market for motorized
fishing and work boats in China.
YF24
VX Deluxe
Yamaha Motor Co., Ltd. 󱚈 Annual Report 2012 43