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Nissan profit rises on strong sales, cheap yen

Healthy sales, cheap yen help push Nissan quarterly profit up with North America, China growth

Nissan profit rises on strong sales, cheap yen

TOKYO (AP) -- Healthy sales and a favorable exchange rate pushed up Nissan's fiscal first quarter profit nearly 37 percent, as vehicle sales grew in North America, China and other overseas markets.

Nissan Motor Co. reported a better-than-expected income of 112 billion yen ($1.1 billion) for April-June, up from 82 billion yen a year earlier.

Analysts surveyed by FactSet had estimated a quarterly profit of 85 billion yen ($835 million).

Quarterly sales jumped 10 percent to 2.466 trillion yen ($24.2 billion).

Nissan's vehicle sales grew in the robust North American market, on solid demand for the Rogue crossover and the Altima sedan, offsetting shaky Japan, where a rise in the consumption tax dampened sales overall.

Nissan kept its full year profit and sales forecasts unchanged.


Updated : 2021-01-19 10:35 GMT+08:00