Fiscal year first quarter net income at Nissan Motor fell 16.2% year on year to JPY92.3bn ($US764m, EUR566m).

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Nissan said the fall was due mainly to a higher tax rate compared to the same period in 2006.


Worldwide sales for the April-June period rose 5.9% to 875,000 vehicles while net revenue was up 10.7% to JPY2.4465 trillion ($20.25bn, EUR15.03bn).


Operating profit fell 3.2% to JPY148.4bn ($1,228m, EUR912m) due mainly to “weaker product mix and higher raw material prices”, the automaker said.


Operating profit margin was 6.1% compared with 6.9% a year ago. Ordinary profit was down 3.5% to JPY151.3bn ($1,252m, EUR 929m.

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“Our results for the first quarter were in line with our expectations, considering factors such as weaker product mix, higher raw material prices and the change in effective tax-rate,” said Nissan Motor president and CEO, Carlos Ghosn.


“We are encouraged by the momentum building globally for our new products such as Qashqai, Altima, Livina and Infiniti G35 and we maintain our forecast for the full fiscal year.”


Nissan will launch 11 all-new models globally in 2007.


The first quarter saw the launch of three – the X-Trail small SUV, the Altima coupe in North America and the Atlas light commercial truck.


Additional products planned for fiscal ’07 are the Livina, Aprio sedan in Mexico, Infiniti G37 coupe, Rogue, GT-R, Infiniti EX luxury crossover, redesigned Murano and a single-cab version of the Frontier-Navara pickup truck.