May 11, 2012
Record Global Sales Push Nissan Profits Beyond Forecast
May 11 – Yokohama – Nissan Motor reported operating profit of 545.8 billion yen (US$6.90 billion) for fiscal 2011 on Friday, a result that beat company forecasts in a year with multiple headwinds.
Global sales rose 15% on year to a record 4.8 million vehicles, while production grew in the U.S., Mexico, the UK, Spain and China.
Nissan is the No. 1 Japanese automaker in China with a record 18.6 percent production increase over fiscal 2010, and is fresh from launching two new models at the Beijing motor show last month.
“For China, we’re already No. 1. In Russia, we want to be No. 1 – if we’re not already, we’re not very far. And with AvtoVAZ, without any doubt, we will become the major Asian brand in Russia. And in Brazil we’re investing to make it a reality,” said CEO Carlos Ghosn. “This is part of the positioning of Nissan for the mid-term plan and beyond the mid-term plan.”
Ghosn commended Nissan’s good performance despite numerous natural and manmade disasters in Japan and Thailand, and exports strained by the strong yen and global economic uncertainty.
“Nissan stood out as a company that reacted very quickly in front of the headwinds, no matter what was the nature of the headwinds,” said Ghosn.
The CEO admitted that serious headwinds, such as the strong Japanese yen and Euro crisis, remain but expected even better business performance in 2012.