Nissan raises sales forecast by almost four times in the last quarter

Article by Christian Andrei, on November 4, 2010

It appears that Nissan is very confident that its sales will be increased in the upcoming months, as the Japanese manufacturer raised its profit and global unit-sales forecasts again.

According to the latest reports, Nissan expects a billion yen ($3.3 billion) profit in the year ending March. The previous forecast was 120 billion yen.

For those who don’t know, Nissan sales rose to 2.27 trillion yen from 1.87 trillion yen a year earlier, and the manufacturer posted a 102 billion yen in net income.

“Nissan’s forecasts exceed the market’s consensus and its own guidance,” said Mitsuo Shimizu, an analyst at Cosmo Securities Co. in Tokyo. “Amid concerns about the global auto industry, investors may react positively to Nissan’s performance.” Nissan also bets on the new models such as the Juke compact crossover.

Furthermore Nissan also hopes to increase its sales with the new LEAF electric vehicle, which will make its debut on the market by the end of year.

Regarding Nissan’s shares, these rose 3.9 percent to 721 yen at the 3 p.m. close of trading on the Tokyo Stock Exchange. [via autonews- sub. required]

Topics: nissan, profit

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