Nissan posts JPY82.7 billion net income for third quarter ended Dec. 31

Article by Anita Panait, on February 9, 2012

Japanese carmaker Nissan posted a net income of JPY82.7 billion for the third quarter ended Dec. 31, 2011, surpassing analyst estimates. According to the average estimate of seven analysts surveyed by Bloomberg News, Nissan was expected to post a JPY71.3 billion net income for the third quarter. With the strong third-quarter showing, Nissan maintained its earnings forecast for the fiscal year ending March 31, 2012 at JPY290 billion in net income.

The carmaker’s profit in its third fiscal quarter was largely attributed to its strong showing in China, where it posted a 22% increase in sales in 2011. Nissan/Renault CEO Carlos Ghosn made a forecast in January that the automotive industry will have a record year due to growth in the U.S., China and most developing countries.

Mitsushige Akino, at Ichiyoshi Investment Management Co., said Nissan was barely affected by the natural disasters in 2011, and it is expected to continue growing this year. Akino remarked that the carmaker has the ability to flexibly adjust production in regions where demand is strong. “Even if it slows down in certain regions, it shouldn't be difficult for them to make it up elsewhere," Akino noted.

In 2011, Nissan’s worldwide sales soared 14% to a record 4.67 million vehicles. The company’s China sales increased by 22% to 1.25 million. In the third quarter ended Dec. 31, 2011, the company posted a 19.5% hike in sales to 1.205 million units. The company also posted a 10% growth in the U.S., spearheaded by its Altima, Rogue and Quest models.

Topics: nissan, income

If you liked the article, share on:

Comments

Recommended

Opel revealed it has sweetened the pot for 2017 Insignia Grand Sport customers with the Opel Exclusive program. Through this program, the brand hopes to introduce a wide selection of...
by - February 22, 2017
Fireball Performance Cars has been known to make the fastest sixth generation LT1 Camaros in the world. Once again it has managed to walk the talk as it hit a...
by - February 22, 2017
The North American unit of German premium carmaker BMW is recalling around 19,000 units of its BMW i3 electric vehicle because of the risk of fuel leak. You may ask,...
by - February 22, 2017
A publication by the U.S. Patent and Trademark Office revealed that Honda is still looking into the Project 2&4 Concept. Officially unveiled during the 2015 Frankfurt Motor Show, the Project...
by - February 22, 2017
Barely a month before its official debut, Hyundai gave everyone a taste of what’s to come with the 2017 Hyundai i30 Wagon. Despite what little was shown, it did not...
by - February 22, 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