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Posts Tagged ‘nissan profits’

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.

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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…)

Nissan Cuts North American Production by 20%

Automaker focusing on profits over growth.

by Michael Strong on May.29, 2018

Nissan's Hiroto Saikawa said the company's new product entries this year should increase sales to nearly 6 million.

Nissan Motors is cutting production in North America by 20% as it shifts from a strategy that focused on growth and now zeroes in on profits.

The company has slowed production at two plants in the U.S. and three in Mexico as its sales for 2018 are down 6.5%, including a 9.5% drop in March. The losses have come despite aggressive discounting and fleet sales efforts.

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Although production is slowing down, the Nikkei said, employees will not be let go. The plants will not be completely shut down and, at some point later this year, production is expected to return to normal levels. (more…)

Nissan Q2 Earnings Hurt by Inspection Debacle

Earnings hit by rising sales expenses in the U.S.

by Michael Strong on Nov.08, 2017

Nissan CEO HIroto Saikawa outlines the company's quarterly results in Japan today.

Nissan Motor Co. reported a 21.6% drop in operating profit for the second quarter. The $1.1 billion, or 128.5 billion yen, was the company’s smallest quarterly profit since 2014.

The Japanese automaker suffered in the quarter just ended from rising expenses and costs from improper final inspection procedures on products at its six plants in Japan. The failure to follow procedures forced the company to shut down the plants for several weeks to review the issue.

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The company admitted that uncertified technicians performed final checks for vehicles sold in Japan. The techs were used because some inspection steps had been transferred to other inspection lines, in violation of ministry rules. (more…)

Strong Nissan Profits Could Signal Good Numbers for Toyota, Honda

Nissan earnings up 38%, as maker raises full-year forecast.

by Paul A. Eisenstein on Nov.03, 2015

Nissan CEO Carlos Ghosn at the Tokyo Motor Show.

Nissan Motor Co.’s strong quarterly earnings – and upgraded forecast for the full year – signal that its two chief Japanese rivals, Toyota and Honda, will also deliver solid numbers, industry analysts are forecasting.

Nissan delivered a 172.8 billion yen, or $1.4 billion, profits for the July-September quarter, the second in its fiscal year. That was up from 124.9 billion yen during the same period a year ago. And the maker said it expects to see a 17% increase in net income, to 535 billion yen, or $4.4 billion, for the full fiscal year ending next March.

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“We are increasing our financial forecast for the full year as our product offensive, our continued financial discipline and the ongoing benefits of our Alliance strategy is delivering better than expected results,” said CEO Carlos Ghosn.

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Nissan Reports 17.6 Percent Profit Increase

Strong sales in North America, Western Europe aids results.

by Joseph Szczesny on May.13, 2015

Nissan CEO Carlos Ghosn reviews the automaker's 2014 financial results. Nissan saw profits rise 17.6% last year.

Aided by a strong showing in North America and Western Europe, Nissan reported a 17.6% increase in profits for the fiscal year March 31.

Carlos Ghosn, the chief executive officer for Nissan and for Renault, said Nissan delivered solid full-year revenues and profits. The robust demand, especially for new products in North America and Western Europe, along with cost cutting and a favorable shift in the yen-dollar exchange rate, offset challenging market conditions in Japan and several emerging markets.

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“These are solid results in a highly competitive marketplace,” Ghosn said. (more…)

U.S. Sales Buoy Nissan’s Quarterly Profits

Slow sales in China, Japan force 3.5% cut in global sales outlook.

by Michael Strong on Nov.04, 2014

Nissan's sales jump in October was due, in part to continuing strong results of the Versa.

Nissan’s operating profit was up 22.4% during its second quarter due to strong sales in the U.S.  as well as a weak yen. However, the maker cut its global sales forecast by 3.5% for the year due to weaker than expected sales in China and softness in Japan.

Nissan plans to sell 5.45 million vehicles worldwide during its financial year, which ends March 2015.

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Japan’s No. 2 automaker reported an operating profit of 139.34 billion yet ($1.2 billion), which beat analysts’ estimates. The big driver was strong sales in the U.S., which were up 13.7% during the quarter. Like most of the automakers in America, Nissan benefitted from low gas prices and a slowly recovering economy. (more…)

Nissan Earnings Surge 37% on Weak Yen, Strong Sales

Net profit significantly beats analysts’ forecasts.

by Paul A. Eisenstein on Jul.28, 2014

The Nissan Sentra has helped drive strong demand for the maker, especially in the U.S. market.

Nissan saw a big surge in earnings for the latest quarter, with analysts crediting both strong sales in China and the U.S., as well as a boost from favorable exchange rates.

The second-largest Japanese maker reported a net profit of 112 billion yen, or $1.1 billion, a 37% year-over-year increase from 82 billion. The figures far and away exceeded analysts’ consensus forecast of 85 billion yen, or $835 million, according to data gathered by FactSet.

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“Nissan continued to make progress in the first three months of the fiscal year as encouraging demand for new products, benefits from recent plant investments, and improving market conditions in North America, China and Europe combined to lift both revenues and profits,” said Nissan President and CEO Carlos Ghosn.

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Strong Sales, Weak Yen Drive Up Nissan Earnings

China, Japan see strong surge in demand.

by Paul A. Eisenstein on Feb.10, 2014

Strong demand for the Altima boosted U.S. sales.

Surging global sales, along with a weak Japanese yen, helped Nissan Motor Co. deliver a 57% increase in profits for the final quarter of 2013.

The second-largest Japanese maker earned 84.3 billion yen, or $823 million, for the October-December quarter, up from 53.8 billion yen the year before – but a fraction of the 525.4 billion yen, or $5.2 billion, in earnings announced by the industry giant Toyota Motor Co. last weak.

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Both makers, along with Japan’s third-largest automotive manufacturer Honda, have benefited significantly from last year’s plunge in the yen which averaged around 80 to the U.S. dollar during the final months of 2013, down from around 100 a year before.

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Nissan Earnings Up – But Maker Cuts Forecast, Shakes Up Management

CEO Ghosn cites tougher market conditions.

by Paul A. Eisenstein on Nov.01, 2013

"We take this very seriously," says CEO Ghosn.

Despite posting a 2% increase in its quarterly net profit, the mood was sour at Nissan Motor Co. Friday morning as CEO Carlos Ghosn cut the Japanese maker’s forecast for the year and reshuffled its leadership team.

Among those impacted by the management reorganization, Chief Operating Officer Toshiyuki Shiga has been shuffled aside and appointed vice chairman while three other executives will now serve as co-COOs.

“Our slow performance required immediate action to be taken,” said Ghosn from Nissan’s headquarters in Yokohama. “We are really tightening. We take this very seriously.”

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The second-largest of the Japanese makers posted a 107.8 billion yen, or $1.1 billion, profit for the July – September period, the second quarter of its fiscal year. That was up just 2% from the 105.7 billion yen net posted a year earlier.  Quarterly sales, however, rose 16%, to 2.5 trillion yen, or $25.4 billion.

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Ghosn Predicts “Milestone Year” for Nissan Leaf

Nissan/Renault chief also sees strong U.S. recovery but more troubles for Europe.

by Paul A. Eisenstein on Mar.28, 2013

Nissan CEO Carlos Ghosn at the 2013 NY Auto Show.

Put on the defensive by the slow ramp-up of the maker’s battery cars, Nissan CEO Carlos Ghosn put on a confident face during an appearance at the New York Auto Show and promised this will be a “milestone year” for the Leaf electric vehicle.

With the maker’s second battery-car plant now operating in Smyrna, Tennessee, the executive said inventory is up and demand rapidly growing.

Ghosn, meanwhile, offered a mixed assessment of the global automotive market, pronouncing a bright outlook for the U.S. but more troubles ahead for Europe. He also offered a cautiously upbeat outlook for China.

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“This is going to be a milestone year for Leaf,” Ghosn said, maintaining the positive outlook that has positioned him as the most upbeat of the industry’s top executives when it comes to the prospects for vehicle electrification.  He continues to forecast that up to 10% of the vehicles sold by decade’s end will use some sort of battery power.

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