With renewed interest in compact cars being generated worldwide, on Thursday, January 31 Suzuki Motor Corp. of Japan reported a 23 percent increase in its quarterly profits for the October-December reporting period.

Of the major automakers in Japan, Suzuki has seen the fastest rate of expansion due in large part to its healthy sales in India through Maruti Suzuki India Ltd., the local subsidiary that itself posted a 24 percent quarterly profit increase.

Having expanded production facilities in Japan, India, and Hungary, Suzuki's global production was up by 680,000 units for a 9.9 percent increase. Although the company has limited exposure in the United States, the demand for Suzuki vehicles is growing steadily in western and eastern Europe.

In the U.S., in contrast to the growing market for smaller, more fuel efficient cars, Suzuki is introducing its first pickup, dubbed the Equator, set to go on sale in the fourth quarter of 2008. Akin to the Nissan Frontier, the Equator will have options for a 4 and 6 cylinder engine and will be build in Smyrna, Tennessee.

The new truck may offset the downturn in sales of Suzuki built motorcycles, which declined during the quarter as consumers wary of a recession began to curb spending on leisure products.

Though known for its cautious business strategies and reporting policies, Suzuki remains well-placed globally, boasting a capitalization of $13.6 billion, which is just under that of the Ford Motor Co.