Nissan forecasts higher sales but lower profits
The carmaker said that net profit for the year to the end of March would be ¥270bn (€2.35bn); down 15% on last year.
However, the company is forecasting global sales for fiscal year 2011 to be 4.6 million units, an increase of 9.9% compared to the previous year.
'Continuous growth in 2011 will bring Nissan a new record volume,' said Nissan President and CEO Carlos Ghosn. 'The unrelenting work ethic of Nissan employees is an inspiration – particularly after one of the worst natural disasters in modern history. The high level of motivation and performance of our Nissan team continues to be the foundation of our success.'
The brand added that it anticipates a return to full unrestricted production in October, as parts suppliers fully recover from the earthquake and tsunami.For more of the latest industry news, click here.