Nissan has revised its forecast it would make another loss this fiscal year, saying it will now return to profit after government incentives boosted demand for its vehicles in China and Japan.
The company said in a statement that it expects net income of JPY35 bn (US$391m) in the year ending 31 March, compared with an earlier forecast of a JPY40 bn ($450m) loss.
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The prediction followed more positive forecasts from Honda and Toyota. Like those companies, Nissan had benefited from tax cuts and government subsidies in Japan and China, now the world’s biggest auto market, where it boosted its full-year vehicle sales estimates to 756,000 from 712,000 and to 625,000 in Japan from 612,000.
In North America, Nissan increased its sales forecast to 1.045m vehicles from 1m.
The company posted net income of JPY45 bn ($510m) for the third quarter. For the fiscal year ended 31 March, 2009, Nissan posted a net loss of JPY233.7bn ($2.63 bn).
