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Nissan Profits Fall 8% in First Half of Fiscal Year

Sales hit in North American while China grows.

by Michael Strong on Nov.08, 2018

Nissan CFO Hiroshi Karube reported the company's profits fell 8% overall due to falling sales in North America and Europe.

Nissan Motor Co. reported an 8% drop in quarterly profits due to declining sales in its biggest markets, North America and Europe, as well as hits on raw material costs.

The Japanese automaker reported quarterly profits of 130.4 billion yen, or $1.1 billion, on Thursday, down from 141.6 billion yen the same period a year earlier. The automaker noted that quarterly sales fell nearly 3% to 2.82 trillion yen, or $24.8 billion.

Global News!

However, this dip in profits wasn’t enough for Nissan to revise its forecast for the fiscal year through March for a 500 billion yen, or $4.4 billion, profit on 12 trillion yen, or $106 billion, sales. (more…)