Nissan forecast profit will more than triple this fiscal year

Article by Christian A., on August 27, 2010

As the demand recovers in North America and with its sales rising in China, Nissan Motor Co. predicts that its profit will more than triple this fiscal year. In a statement, Nissan said that net income could be raised to 150 billion yen ($1.6 billion) for the year ending March 31, compared to 42.4 billion yen a year earlier. Sales could increase to 8.2 trillion yen from 7.5 trillion yen.

Nissan's sales in China are predicted to rise by 14% this fiscal year, while North American deliveries may rise 13% to 1.2 million as the region recovers from a recession.

Nissan forecast of a higher profit is similar to what Toyota Motor Corp. and Honda Motor Co. have done. Yoshihiro Okumura, of Chiba-gin Asset Management Co. in Tokyo, thinks that the full-year profit plan appears to be a bit conservative. He added that Nissan expects a net income of about 200 billion yen.

As the demand rose industrywide for the sixth straight month, Nissan also saw its US sales go up by 35% last April. In an interview, Nissan President and CEO Carlos Ghosn said that US vehicle sales could total 12 million this year, up from 10.4 million last year. [via autonews - sub. required]

If you liked the article, share on:

Comments

Recommended

J.D. Power has officially released the 2017 Vehicle Dependability Study, an annual list of the most dependable brands in the auto industry. Once again coming on top is Lexus, the...
by - February 26, 2017
Citroen revealed that its entry to the Chinese market is moving forward with the planned release of the new generation C5. While still on sale on this part of the...
by - February 26, 2017
There is definitely a second-generation Super Series from McLaren. Even in camouflaged form, it is simply incredible. But while we still don’t have the full data on how truly dynamic...
by - February 25, 2017
A lot of fans are excited with the news that Porsche could be unveiling a performance version of its Panamera 4 E-Hybrid plug-in hybrid during the 2017 Geneva Auto Show. ...
by - February 25, 2017
Tesla is finally setting a more “definite” schedule with regards to the official launch of the Tesla Model 3 electric car. A “limited production” is said to be slated to...
by - February 25, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries