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Nissan Cuts Sales Forecast as Profits Surge 16%
Nissan Motor Co.'s net income jumped 16% to 125 billion yen ($4.1 billion) in July-September, aided by a weak yen.
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Nissan Motor Co.'s net income jumped 16% to 125 billion yen ($4.1 billion) in July-September, aided by a weak yen.
But the company cut its worldwide sales forecast for the fiscal year ending March 31 to 5.45 million units from 5.65 million, citing slower growth in China. Nissan sold 5.19 million vehicles in the previous fiscal year.
Operating profit in the fiscal second quarter surged 22% to 139 billion yen ($1.2 billion) as revenue climbed 6% to 2.7 trillion yen ($23.6 billion).
Results were bolstered by record-high sales in the American market. Incentives helped increase unit sales 14% in the quarter. October sales jumped to a 10-year high.
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