Report: Nissan expects net income of $3.8 billion in the year ending March 31

Article by Christian Andrei, on February 9, 2011

Japan’s second-largest automaker, Nissan Motor Co., said that it expects net income of JPY315 billion ($3.8 billion) in the year ending March 31, 2011, compared with an earlier forecast of JPY270 billion. The company raised its profit forecast after new models and increasing sales in Asia and North America helped the company offset the impact of the strong yen.

Nissan follows Honda Motor Co. and Toyota Motor Corp. in raising its profit outlook even as the yen trades near a 15-year high against the dollar, reducing the value of overseas earnings.

Nissan is benefitting from new models like the Juke, Micra and March compacts and the drop in purchasing costs. Issei Takahashi, an analyst at Credit Suisse Securities Japan Ltd., said that Nissan's solid growth comes from introducing new models globally.

For the three months that ended Dec. 31, 2010, Nissan's net income rose 78 percent to JPY80.1 billion ($971.5 million) from JPY45 billion a year earlier.

That was higher than the JPY77.3 billion average estimate of five analysts compiled by Bloomberg in the past 28 days. Revenue increased 5.3 percent to JPY2.1 trillion while vehicle sales gained 14 percent to 1.01 million.

The company expects to sell 4.165 million vehicles in the year ending March 31, 2011, up from an earlier forecast of 4.1 million. [via autonews - sub. required]

Topics: nissan, sales

If you liked the article, share on:


Login or Create new account to add a comment!


Wondering what the Fantasy Gift in Neiman Marcus’ annual Christmas Book this year could be? If you are generous enough to give others or yourself this special present, then behold...
by - October 24, 2016
It wasn’t too long ago when Maserati took the wraps off what appears to be the most gorgeous concept coupe ever made. The Alfieri coupe premiered at the 2014 Geneva...
by - October 23, 2016
Many have been excited with the impending arrival of the next-generation Jeep Wrangler and the new 2019 Jeep Grand Wagoneer, which is slated to be the brand’s new range-topping model....
by - October 21, 2016
Chevrolet has taken the wraps off its new Chevrolet Colorado ZH2 at the fall meeting of the Association of the United States Army (AUSA). Tagged as the most extreme fuel-cell-powered...
by - October 21, 2016
Honda has unveiled the fifth generation of its hot-selling SUV – the 2017 Honda CR-V. The latest iteration of the CR-V should help it maintain its benchmark status in the...
by - October 21, 2016