Nissan Motor reported a high jump in third-quarter operating profit, beating analysts’ forecasts due to strong demand in North America and Western Europe.
Japan’s second-largest automaker by sales posted its financial results for the 9-month period ending December 31 that showed a net income of 452.8 billion yen (3.7 billion dollars), up 33.7 percent, as strong demand in North America and Western Europe offset weakness in several emerging markets. Nissan’s third quarter profit rose to 192.6 billion yen (1.68 billion dollars), exceeding the forecast of analysts polled by Thomson Reuters and also beating estimates compiled by Bloomberg. “Our product offensive has reaped rewards in North America and Western Europe, where buoyant consumer demand and rising unit sales underpinned Nissan’s overall profit-growth,” said Carlos Ghosn, president and chief executive officer. “Nissan remains on track to achieve its full year financial forecast, reflecting encouraging sales trends in the U.S. and parts of Europe,” he added. Nissan overcame a 26.8 billion yen hit in the quarter from weakness in the Mexican peso and other currencies against the US dollar.
Nissan Motor sold a record 5,421,804 cars and trucks worldwide last year, up 2.1 percent, from which Infiniti accounted for 215,250 vehicles. In the United States, the automaker set an all-time record in 2015 with 1,484,918 units, up 7.1 percent, achieving an 8.5 percent market share.
Facing such high demand in the US, especially for its popular Rogue, Nissan plans to increase the production at its North American plants, also saying its facilities in southern Japan would begin building the crossover for export to the United States in spring or early summer.