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]