-2.1 C
New York City
Tuesday, March 21, 2023
Home Around-the-World Nissan Records $1.01 billion Profit, Surpasses Expectations

Nissan Records $1.01 billion Profit, Surpasses Expectations

Japanese automaker, Nissan Motor Co on Thursday posted a better-than-expected 155% jump in third-quarter operating profit, boosted by a weaker yen and cost management.

Operating profit for the three months ended Dec. 31 came to 133.1 billion yen ($1.01 billion), beating the average 104.79 billion yen profit estimated by nine analysts, according to Refinitiv data. That compared to a 52.2 billion yen profit in the same period a year earlier.

The Yokohama-based automaker maintained its forecast for an operating profit of 360 billion yen for the year to March 31, helped by a weaker yen that bolsters the value of overseas sales.

Nissan and Renault SA  said on Monday the Japanese automaker will invest a stake of up to 15% in the French firm’s new electric vehicle unit, Ampere, as part of a long-anticipated agreement to revamp their alliance.

Nissan shares closed down 0.1% at 472.7 yen earlier in the day, before the company reported earnings.

©Copyright MOTORING WORLD INTERNATIONAL. All rights reserved. Materials, photographs, illustrations and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior written permission from Motoring World International

Contactinfo@motoringworldng.com

Most Popular

Abuja, Nigeria Unveils Self-Service Vehicle Registration Portal

The FCT Directorate of Road Traffic Services (DRTS), on Thursday in Abuja unveiled Self-Service Vehicle Registration Portal for a seamless registration of vehicles in...

Russia Moves to Take Over Toyota Plant

Japanese carmaker Toyota’s St Petersburg plant may be transferred to the Russian state entity NAMI, Russian Industry and Trade Minister Denis Manturov said on...

Volkswagen Opens New Vehicle Assembly Plant in Ghana

Volkswagen is reaffirming its commitment to the development of the automotive industry in Ghana with the opening of a new vehicle assembly facility in...

Toyota Withdraws Corolla H2 Concept from Race, Following Fire Occurrence

T oyota Motor Corporation has withdrawn its GR Corolla H2 Concept (hydrogen-powered Corolla) from the upcoming ENEOS Super Taikyu, a Japanese racing series. Powered by Hankook...
%d bloggers like this: