Company president Carlos Ghosn has gone on the record with the claim that Nissan is heading for a second straight year of record earnings, helped by cost cuts and strong sales, Bloomberg News reported. “This year will be another record year,” Bloomberg cited Ghosn saying during a speech in Tokyo but added that he did not elaborate.
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Bloomberg News noted that Nissan said last May it would report a net profit of 330 billion yen ($2.5 billion) for the year ending on March 31, 2002, just short of the 331.1 billion yen record profit for the previous year. Earlier this month, Bloomberg added, Nissan said its Nissan Revival Plan would finish a year ahead of target this March. Bloomberg News said that in the company’s key US market, the all-new Altima sedan is doing well above expectations with 148,345 sales, up 8.3 percent, since its release five months ago. That includes a 28 percent year-on-year gain for January alone while the sales rate so far is nearly double the original target of 190,0000 annual sales, Bloomberg added. Bloomberg said that Ghosn, when asked about the weaker Japanese yen that is worrying many Detroit-based car makers, responded that Nissan has no plans to change its strategies or investments. “We don’t base our plans on the yen and we hope to make our company strong to become immune to the fluctuations of the currencies,” Ghosn told the news agency in a separate interview.
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