Nissan and Toyota Report Soaring Profits Amidst EV Market Shifts
As Nissan and Toyota navigate a turbulent electric vehicle market, both companies report significant profit increases and strategic shifts towards hybrid and electric models.
- Nissan's net profit surged by 92% in the last fiscal year, driven by robust sales in all major markets except China.
- Toyota doubled its net profit, bolstered by strong hybrid vehicle sales and a favorable exchange rate.
- Despite a global downturn in EV enthusiasm, Toyota's hybrid strategy pays off, with a 31% increase in hybrid sales.
- Nissan plans to develop 30 new models by 2026, focusing on expanding its electric vehicle offerings.
- Both automakers forecast a cautious future, with Toyota predicting a 28% profit drop due to increased investments in technology and human capital.
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San Antonio Express-News 
Tech Xplore 
Al Jazeera 
Financial Post 
The Japan Times 
