Mexican Media Brands
Nissan Expects Record Profit in China
Nissan Motor Co. is likely to deliver a record operating profit of 160 billion yen ($1.3 billion) in the current fiscal year that began April, a source tells The Nikkei.
#economics
Share
Nissan Motor Co. is likely to deliver a record operating profit of 160 billion yen ($1.3 billion) in the current fiscal year that began April, a source tells The Nikkei.
The unit's previous fiscal year record was 129 billion yen. The company says a richer mix of SUV/crossover sales is boosting operating results, even though unit sales growth is likely to slow to 6% and 1.6 million units.
The company's China operations are likely to contribute 19% of group operating profit in the current fiscal year, the newspaper reports.
The Nikkei says Nissan has dropped its practice of adding half the operating profit of its China venture with Dongfeng Motor Co. to its group operating results. For reporting purposes, the company now treats half the venture's net profit as an equity investment and adds that amount to its pretax profit.
RELATED CONTENT
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.
-
On Global EV Sales, Lean and the Supply Chain & Dealing With Snow
The distribution of EVs and potential implications, why lean still matters even with supply chain issues, where there are the most industrial robots, a potential coming shortage that isn’t a microprocessor, mapping tech and obscured signs, and a look at the future
-
On Lincoln-Shinola, Euro EV Sales, Engineered Carbon, and more
On a Lincoln-Shinola concept, Euro EV sales, engineered carbon for fuel cells, a thermal sensor for ADAS, battery analytics, and measuring vehicle performance in use with big data