TOKYO — Nissan’s revenue sank in October-December to about half of what it earned the yr earlier than, the automaker stated Thursday, although it caught to its earlier earnings forecasts.
Nissan Motor Co., based mostly within the port metropolis of Yokohama, reported its revenue was 29 billion yen ($195 million) within the final quarter, down from 50.6 billion yen a yr earlier.
Quarterly gross sales jumped almost 10% to three.1 trillion yen ($21 billion) for the maker of the Leaf electrical automotive, Infiniti luxurious fashions and Z sportscars.
Market situations had been particularly tough in China, Stephen Ma, Nissan’s chief monetary officer, informed reporters. The Chinese language auto market stays intensely aggressive amid a value conflict between producers, dominated by locals like BYD, with its sturdy EV choices.
Nissan’s car gross sales in China plunged 35% in April-December from the earlier yr. Nissan gross sales rose about 30% within the U.S. from a yr earlier, serving to to offset the China woes.
For the primary 9 months of the fiscal yr that ends in March, Nissan’s world gross sales rose 22% to 9.17 trillion yen ($61.7 billion).
Nissan stored unchanged its annual projection for a 390 billion yen ($2.6 billion) revenue on 13 trillion yen ($87 billion) in gross sales.
Nissan expects to promote 3.55 million automobiles globally for the yr via March, down from an earlier projection of three.7 million automobiles. That’s nonetheless higher than the three.3 million automobiles Nissan bought the yr earlier than.
By area, Nissan expects car gross sales to develop within the U.S., Japan and Europe, however not in China.