Nissan’s Operating Profit Surges 58%
Nissan Motor Co.'s operating profit in April-June jumped to 194 billion yen ($1.6 billion) from 123 billion yen on surging sales in North America.
#economics
Nissan Motor Co.'s operating profit in April-June jumped to 194 billion yen ($1.6 billion) from 123 billion yen on surging sales in North America.
Net revenue climbed 18% to 2.9 trillion yen ($23.9 billion). Unit sales rose 4% to 1.29 million vehicles, pushing Nissan's share of the global market to 5.9% from 5.7% a year earlier.
Net income for the quarter surged 36% to 153 billion yen ($1.3 billion). An 11% drop in consolidated unit sales in Japan was offset by 14% growth in North America.
Nissan affirms targets of 5.55 million unit sales in the current fiscal year ending next March 31. The company expects full-year revenue of 12.1 trillion yen ($105.2 billion), an operating profit of 675 billion yen ($5.9 billion) and net income of 485 billion yen ($4.2 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.
-
China and U.S. OEMs
When Ford announced its 3rd quarter earning on October 24, the official announcement said, in part, “Company revenue was up 3 percent year over year, with net income and company adjusted EBIT both down year over year, primarily driven by continued challenges in China.” The previous day, perhaps as a preemptive move to answer the question “If things are going poorly in China, what are you doing about it?, Ford announced that it was establishing Ford China as a stand-alone business unit.
-
On The German Auto Industry
A look at several things that are going on in the German auto industry—from new vehicles to stamping to building electric vehicles.