Nissan posts JPY82.02-bil net profit for Q1 ended June

Article by Anita Panait, on July 26, 2013

Nissan Motor Co. posted a nearly a 14-percent jump in net profit in the first quarter ended June 2013 to JPY82.02 billion ($818.9 million), compared to JPY71.97 billion in the same period in 2012. Nissan’s first-quarter results topped the JPY74.9-billion average of six analyst estimates compiled by Bloomberg.

Nissan posted a 25-percent surge in deliveries in the United States in May 2013 after its trimmed prices on seven models, including its top-selling Altima sedan, thanks to a weaker yen.

Nissan disclosed last month that it already fixed a shortage of supply that held back sales of five new models in the US in 2012. Issei Takahashi, a Tokyo-based auto analyst at Credit Suisse Group, remarked to Bloomberg that Nissan's sales performance in the US “has been robust."

He attributed the increase in Nissan’s US volume to the carmaker’s move to reduce retail price of models as well as to the resolution of its inventory problems.

The price cuts as well as pent-up demand boosted sales of Nissan’s new Pathfinder sports utility vehicle and its Altima sedan, both of which were revamped in the US in 2012. In June 2013, Nissan saw deliveries of the Pathfinder surge more than triple and the Altima hike 23 percent.

The carmaker also sold 2,225 units of its Leaf EV in June, its second-highest monthly sales ever, according to researcher Autodata Corp. Nissan has managed to top its 2012 total Leaf sales in the first half of 2013 to 9,839 units after the carmaker trimmed its price, introduced a cheaper entry-level model, and boosted the battery range.

Topics: nissan, sales

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