Suzuki Motors says Brexit to have 'major' impact on earnings

Suzuki Motor Corp on Wednesday said currency market volatility after Britain voted to exit the European Union would likely have a "major" impact on earnings, and that it would offset the impact by cutting costs and local procurement. Suzuki Motors, which sells nearly half of its vehicles in India, said volatility in India's rupee and the euro would have a negative impact on the Japanese automaker. Suzuki's overseas production facilities include plants in India and EU member state Hungary.