Nissan cuts full-year sales forecast after second-quarter profit slumps
Photo: David Zalubowski /AP/TT

Nissan cuts full-year sales forecast after second-quarter profit slumps

Japanese carmaker Nissan reports unexpectedly weak results for the second quarter of the fiscal year, which ended in September. The sales forecast for the full fiscal year has been lowered.

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Operating profit fell to 2.1 billion yen, down from 51.5 billion yen in the same quarter last year.

The average analyst forecast for the second quarter of the current fiscal year was 49.3 billion yen, according to Bloomberg.

However, net income rose more than expected to 3.1 trillion yen, up from 2.9 trillion.

Sales are developing positively in the United States and Japan, prompting Nissan to raise its sales forecasts for those markets. But in China, the outlook is worsening, partly due to weak demand and fierce competition.

Overall, Nissan is lowering its sales forecast for the full fiscal year to 2.97-3.00 million cars, from a previous forecast of 3.15 million cars.

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AuthorTT News AgencyEnglish edition by Sweden Herald, adapted for our readers
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