Nissan Sees Tenfold Profit Increase with Strong Global Sales and Weak Yen; Electric Vehicle Development Lags in China

Nissan's quarterly sales surge 25% to $20.9 billion as weak yen boosts earnings of Japanese exporters; Sales in China suffer due to lagging electric vehicle offerings.

Nissan's profits increased more than 10-fold from a year earlier, with a notable Q3 profit of 190.7 billion yen ($1.3 billion), driven by global vehicle sales and a weak yen.
Quarterly sales rose by 25% to 3.15 trillion yen ($20.9 billion), with sales increasing by 11% in Japan, 40% in North America, and 19% in Europe.
Nissan's performance in China was weaker, with vehicle sales down 34% on last year, attributed to the company's lagging battery electric vehicle (BEV) offerings in the rapidly growing EV market.
Despite challenges, Nissan projects a raised profit forecast of 390 billion yen ($2.6 billion) for the full fiscal year through March 2024.
Nissan plans a strong BEV offering for the second half of 2024 to compete in the high-demand electric vehicles market, especially in regions like China.