Suzuki and Mazda hiked their annual profit forecasts

As these Japanese carmakers are experiencing higher demand and have been successful at cutting costs, Suzuki Motor Corp.

and Mazda Motor Corp. both raised their annual profit forecasts.

Automakers all around the globe have cut fixed costs and boosted production efficiencies to cope with the global economic slowdown. Government incentives also boosted the sales of fuel-efficient cars. Suzuki, owned 19.9% by Volkswagen AG due to a deal made in December, has profited from strong sales in India’s fast-growing market, where it is the top player through subsidiary Maruti Suzuki.

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