Home Business News Nissan posts 6% rise in Q3 revenue, lacking estimates By Reuters

Nissan posts 6% rise in Q3 revenue, lacking estimates By Reuters

Nissan posts 6% rise in Q3 revenue, lacking estimates By Reuters


© Reuters. The brand of Nissan Motor Corp. is displayed the corporate’s showroom in Tokyo, Japan November 11, 2020. REUTERS/Issei Kato

TOKYO (Reuters) -Japan’s Nissan (OTC:) Motor posted a lower-than-expected 6.4% rise in working revenue within the December quarter on Thursday, saying it can keep its annual outlook as a extra worthwhile product combine offset a decrease full-year car gross sales forecast.

Working revenue totalled 141.6 billion yen ($951.80 million) for the three months to Dec. 31, in contrast with the common estimate of 179.8 billion yen in a ballot of 9 analysts by LSEG.

The automaker maintained its working revenue forecast of 620 billion yen for the present monetary yr.

It revised its retail gross sales outlook for the present monetary yr down to three.55 million autos from 3.7 million it had anticipated beforehand, on account of decrease forecasted gross sales throughout markets.

“We’re managing our enterprise with self-discipline,” Nissan CFO Stephen Ma informed a press briefing.

The decrease gross sales forecasts mirrored challenges equivalent to intensifying competitors and logistics points across the firm’s key markets, together with China, Ma added.

Nissan’s international gross sales grew 4.6% to some 3.3 million autos in 2023, it mentioned final month, as a stronger efficiency in North America and Europe offset falling demand for its vehicles on this planet’s prime auto market China amid fierce competitors from Chinese language manufacturers.

China gross sales slumped 16% in 2023 to lower than 800,000 autos, a pattern that helped the USA develop into the automaker’s most essential market with its gross sales there rising 23% to nearly 900,000 autos final yr.

Nissan has beforehand dedicated to speculate as much as 600 million euros ($646.80 million) in Ampere, the electrical car enterprise of its long-standing alliance associate Renault (EPA:).

The French automaker’s determination to cancel the inventory market flotation of Ampere wouldn’t delay investments into the unit from Nissan, Renault Chairman Jean-Dominique Senard mentioned final week.

($1 = 0.9276 euros)

($1 = 148.7700 yen)



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