Mexican Media Brands
Nissan’s Net Profit Jumps 37%
Nissan Motor Co. reports net earnings of 112.1 billion yen ($1.1 billion) for the fiscal first quarter ended June 30, up 37%.
#economics
Share
Nissan Motor Co. reports net earnings of 112.1 billion yen ($1.1 billion) for the fiscal first quarter ended June 30, up 37%. Revenue climbed 11% to 2.5 trillion yen ($24.2 billion).
The company's global operating profit for the quarter rose 13% to 122.6 billion yen ($120.3 million). Unit sales advanced 6% to 1.24 million vehicles.
Nissan's operating profit in Japan plunged 24% to 56.9 billion yen ($558.4 million) as the country's April consumption tax increase triggered a two-month sales slump. Domestic sales slipped 1% to 134,000.
In the U.S., Nissan's unit sales grew 14% to 350,000 in April-June. The company's operating profit there surged 22% to 51 billion yen ($500.5 million). In China, quarterly volume surged 21% to 283,000 units. European sales rose 13% to 171,000 units.
Nissan predicts its worldwide sales will climb 9% to 5.65 million vehicles for the full fiscal year ending March 31. It expects revenue to grow 3% to 10.8 trillion yen ($106 billion) and forecasts a 7% gain in operating profit to 535 billion yen ($5.3 billion).
RELATED CONTENT
-
Porsche Doubles EV Target for 2025
Porsche AG says about half the vehicles it sells by 2025 will be equipped with hybrid or all-electric powertrains, twice the ratio it forecast four weeks ago.
-
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.
-
What Suppliers Need to Know Right Now
This is a time of reckoning for the auto industry, says Paul Eichenberg. He has some recommendations as to how companies can make their way through it.