Nissan: Upgrades operating profit estimates by 20%

Get real time updates directly on you device, subscribe now.

Nissan motor Co raised operating profit estimates by 20% as sales recovered from the fall of the pandemic and limited vehicle supplies, which allowed it to reduce incentives and increase margins.

Nissan, like other major automakers around the world, has been forced to cut production due to a lack of semiconductors and other components.

But demand for cars in key markets such as China and the US is growing.

Nissan upgraded earnings estimates for the full year to 180 billion yen ($ 1.59 billion) from 150 billion yen.

The forecast is higher than the average estimates of 23 analysts for profits of 161 billion yen.

Last week, Honda Motor cut operating profit estimates for the full year by 15% due to a lack of semiconductors, while Toyota Motor downgraded estimates for annual vehicle sales and warned that the absence of semiconductors posed a risk to production plans.

Nissan said it announced operating profit for the second quarter (as of September 30) of 62.8 billion yen, compared with a loss of 4.8 billion yen a year ago.

The result was better than average estimates for losses of 4.4 billion yen.

.

Source From: Capital

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.