Nissan logs 5% rise in fiscal Q4 income to $1.12 billion

Article by Andrew Christian, on May 14, 2014

Nissan Motor Corp. saw its net income in its fourth fiscal quarter, that ended March 2014, surge 5 percent to JPY114.9 billion ($1.12 billion), thanks to bigger sales and rising operating profit in North America. The carmaker posted a 21-percent rise in revenues to JPY3.2 trillion ($31.13 billion), and an 18-percent jump in global sales to 1.52 million vehicles in the period.

The Japanese carmaker posted a 73-percent climb in operating profit in North America to JPY104.0 billion ($1.01 billion) in the three-month period, boosted by an 11-percent jump in regional sales to 443,000 vehicles. The results in North America allowed Nisan to offset weaker business in Europe and Japan.

For the quarter, Nissan saw its European operations post EUR300 million ($2.9 million) in operating profit, a turnaround from JPY11.9 billion ($115.8 million) in losses in the same period in 2013.

Despite the turnaround in the quarter, Europe is still Nissan’s weakest major market, as posted JPY23.6 billion ($229.6 million) in operating loss for the fiscal year ended March 2014, compared to slight profit a year prior.

The Japanese carmaker saw its sales in Europe rise 14 percent to 205,000 vehicles in the fourth fiscal quarter. Its European sales for the full fiscal year, however, only jumped 2 percent to 676,000 units.

According to chief executive Carlos Ghosn, a focus on brand image and product launches boosted both sales and profits in North America, citing the redesigned Rogue crossover that was rolled out in 2013.

The redesigned Rogue crossover is the first vehicle underpinned by a new common Renault-Nissan platform. While Ghosn remarked that while the US looks good for Nissan, the carmaker’s market share is still below his target of 10 percent.

Nissan North America’s market share leaped to 9.5 percent in the first three months of the year. Ghosn is targeting a 10 percent US market in the fiscal year ending March 31, 2017.

Topics: nissan, income

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

Chevrolet Equinox is a mid-sized crossover SUV created by Chevrolet for General Motors. First introduced in 2004, this GM Theta unibody platform crossover SUV came into production the following year...
by - September 30, 2016
Mercedes-Benz Vans, one of the world’s top van makers, has just launched adVANce, which is their strategic transport industry initiative for the future. With this, the division analytically considers its...
by - September 29, 2016
In 2007, when Nissan first introduced the R35 Nissan GT-R at the 2007 Los Angeles Auto Show, the car carried with intense power and a price tag of $78,000. Up...
by - September 29, 2016
Bentley Motors has just released the specs of the new Bentayga Diesel. Obviously, we couldn’t wait to share it here since it’s the first ever diesel model to come out...
by - September 26, 2016
A big chunk of Volvo Cars’ legacy in developing the most durable and capable car is evident in its latest Cross Country collection. Suffice it to say, our planet has...
by - September 21, 2016