Subscribe free to our newsletters via your
. 24/7 Space News .




CAR TECH
Nissan posts record sales, $4.28 bn net profit
by Staff Writers
Tokyo (AFP) May 11, 2012


Nissan on Friday posted a $4.28 billion full-year net profit and record sales as the Japanese automaker shrugged off the devastating impact of last year's quake-tsunami disaster on production.

Japan's second-biggest automaker said it earned 341.43 billion yen in the fiscal year to March, up 7.0 percent year-on-year, surpassing its forecast of 290 billion yen and bucking a national trend of falling auto profits.

The company said sales rose to their highest-ever 9.41 trillion yen with 4.85 million vehicles sold globally, even after a year that saw natural disasters and a high yen play havoc with many automakers' operations.

Vehicle sales rose in Japan, the United States, Europe and Nissan's biggest market, China, now the world's largest auto market, where the firm said sales jumped about 22 percent in fiscal 2011.

For the current year, Nissan said it expected a net profit of 400 billion yen on soaring sales of 10.3 trillion yen, and forecast it would sell 5.35 million vehicles around the world, up about 10.0 percent.

This will be "a good year for the industry, particularly if you are in a well-equipped position," chief executive Carlos Ghosn told a news briefing in the city of Yokohama, where the company is based.

"We want to be ... the number one Asian brand in China, Russia and Brazil."

Ghosn added that "India's going to be very difficult because of the big presence of Suzuki.. but for China we are already number one. And in Russia we want to be the number one."

"In Brazil, we are investing to make it a reality," he said.

Nissan's results stood in stark contrast to fellow Japanese auto titans Toyota and Honda whose full-year profits tumbled in the same period.

Masataka Kunugimoto, an auto analyst at Nomura Securities in Tokyo, said Nissan's results "were good partly because its rivals performed badly."

"But this year rival automakers will recover, so it could be a more difficult year for Nissan," he added.

However, the analyst said the firm's forecasts were "realistic given that Nissan's performance has been very good in China and the United States."

The first six months of 2011 were torrid for the nation's manufacturers, with the lingering impact of March earthquake-tsunami hamstringing production lines and electricity-saving measures squeezing capacity.

Nissan, Toyota and Honda all slashed production and shuttered plants because of power shortages and a component supply crunch.

Japanese exporters have been battling the crippling effects of a sky-high yen, which makes their products more expensive overseas and erodes repatriated profits, a point underscored by Ghosn on Friday.

"All the negativities of results (are) coming from the impact" of the yen, he said.

Flooding in Thailand that created a component shortage also proved a drag for firms with plants in the Southeast Asian nation.

Nissan shares were up 3.34 percent at 804 yen on Friday, with the results released just as markets closed.

On Wednesday, Toyota said its net profit for the year to March was 283.56 billion yen, a 30.5 percent on-year fall, while Honda said late last month that its earnings for the period hit 211.5 billion yen, down about 60.0 percent.

Nissan said Friday it would release 10 new products globally in the current fiscal year as the company locks horns with global heavyweights General Motors and Volkswagen.

The Japanese firm has announced it would dust off the shelved Datsun brand for emerging markets and start making a new midsize hatchback at its huge plant in Sunderland in the north of England from 2014.

It is also planning to build two models of its luxury Infiniti brand in China, while it and partner Renault this month announced a deal that gives them control of Russia's Avtovaz, owner of the iconic Lada brand.

.


Related Links
Car Technology at SpaceMart.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle








CAR TECH
Electric-powered van to make trans-Africa trip
Nairobi (AFP) May 10, 2012
An electric-powered van launched a trip Thursday to cross eastern and southern Africa, in an expedition designed to showcase the endurance of the vehicles and promote green energy use. "We want to break the cliches of electric-powered vehicles," said driver Xavier Chevrin, speaking at the expedition launch in the Kenyan capital, at the offices of the UN Environment Programme (UNEP), which is ... read more


CAR TECH
Perigee "Super Moon" On May 5-6

India's second moon mission Chandrayaan-2 to wait

European Google Lunar X Prize Teams Call For Science Payloads

Russia to Send Manned Mission to Moon by 2030

CAR TECH
NASA Spacecraft Detects Changes in Martian Sand Dunes

Prof Active In Mission To Determine Climate Change And Life On Mars

Technology developed at Caltech measures Martian sand movement

Russia could join U.S. in Mars mission

CAR TECH
NASA Conducts Tests on Orion Service Module

Boeing Completes Full Landing Test of Crew Space Transportation Spacecraft

How will the US biotechnology industry benefit from new patent laws?

Space -- the next frontier for Hillary Clinton?

CAR TECH
China's Lunar Docking

Shenzhou-9 may take female astronaut to space

China to launch 100 satellites during 2011-15

Three for Tiangong

CAR TECH
Middle School Students Send Commands to the International Space Station

Dancing Droplets Rock Out On Space Station

Space Station's Robotic Crew Member Designed to Look, Move and Work Like a Human

Expedition 30 Lands in Kazakhstan

CAR TECH
A Soyuz takes shape in French Guiana for the next dual Galileo satellite launch

SpaceX boss admits sleep elusive before ISS launch

Air Force launches 2nd advanced satellite

A trio of Ariane 5 launchers are now at the Spaceport

CAR TECH
Unseen planet revealed by its gravity

Ultra-cool companion helps reveal giant planets

NASA's Spitzer Sees the Light of Alien 'Super Earth'

Looking for Earths by looking for Jupiters

CAR TECH
TDRS-4 Mission Complete; Spacecraft Retired From Active Service

Pratt and Whitney Rocketdyne Propulsion Orbits Critical Communications Satellite for US Military

Thailand buys Chinese tablet computers for schools

Curtiss-Wright Controls Awarded Contract By Alenia Aermacchi




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement