Nissan has posted a net profit of JPY82bn (US$830m) profit for the first quarter of financial year 2013/14 despite a 3% dip in global vehicle sales from a year ago.
Joji Tagawa, corporate vice president with responsibility for investor relations, said the quarter was in line with expectations, and that Nissan is maintaining its full-year profit outlook.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Tagawa said: “Our overall sales performance continued to be limited by lingering impacts of the island issue in China where we report on a calendar year basis as well as persistent weakness in Europe. Nissan’s first quarter performance reflects these market conditions as well as our continued investments for future growth.”
Improving sales in China following last year’s island dispute and a full ramp-up of US operations are likely to further improve Nissan’s financial performance while weaker yen, which has fallen 25% against the dollar from a year ago, and new models, including the Nissan Rogue crossover and Infiniti Q50 will also add momentum.
Nissan sold 1.17m vehicles globally in the first quarter.
