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Nissan Motor Company (7201T. and NSANY ADR) today announced a revision to its financial forecast, made on 8 February 2024, for the full fiscal year ending 31 March 2024. “The financial forecast is based on judgements and estimates that have been made using currently available information. By their nature, such financial forecasts are subject to uncertainty and risk. Therefore, the final results may differ from the aforementioned forecast,” Nissan said.
The forecast sales volume has been lowered to 3.44 million units, net revenue to 12.6 trillion yen, and operating profit to 530 billion yen. Net income is forecast to reach 370 billion yen for fiscal year 2023. “The revision is due to a decrease in sales volume, various cost reliefs made to suppliers such as inflation, and other factors,” Nissan said.
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Under the recently announced Arc business plan,* Nissan aims to increase annual global sales volume by 1 million units by the end of fiscal year 2026 and accelerate the company’s transition to electric vehicles. “To successfully deliver the plan, Nissan will adopt more efficient ways to collaborate with suppliers,” Nissan said. In other words at the moment the ARC is sinking.
*Nissan ARC Business Plan as announced on 25 March 2024
- Nissan targets additional 1-million-unit sales compared to fiscal year 2023 and operating profit margin of more than 6% by end of fiscal year 2026.
- 30 new models to be launched by fiscal year 2026, of which 16 will be electrified.
- 60% of internal combustion engine (ICE) passenger-vehicle models to be refreshed by fiscal year 2026.
- EV competitiveness to be enhanced by reducing cost of next-generation EVs by 30% and achieving EV and ICE vehicle cost parity by fiscal year 2030.
- Significant next-generation EV cost reduction to be achieved through grouped “family” development, with vehicle production under the approach starting in fiscal year 2027.
- Strategic partnerships expanded into technology, product portfolio and software services.
- Dividends and buybacks to target total shareholder return of more than 30%.
- New business ventures to unlock a potential 2.5 trillion yen in additional revenues by fiscal year 2030.
Nissan President and Chief Executive Officer Makoto Uchida said: “The Arc plan shows our path to the future. It illustrates our continuous progression and ability to navigate changing market conditions. This plan will enable us to go further and faster in driving value and competitiveness. Faced with extreme market volatility, Nissan is taking decisive actions guided by the new plan to ensure sustainable growth and profitability.”
AutoInformed on
About Ken Zino
Ken Zino, publisher (kzhw@aol.com), is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn.
Zino is at home on test tracks, knows his way around U.S. Congressional hearing rooms, auto company headquarters, plant floors, as well as industry research and development labs where the real mobility work is done. He can quote from court decisions, refer to instrumented road tests, analyze financial results, and profile executive personalities and corporate cultures.
He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe.
Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap.
AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks.
Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.
Nissan Arc Business Plan is Sinking?
Click to enlarge.
Nissan Motor Company (7201T. and NSANY ADR) today announced a revision to its financial forecast, made on 8 February 2024, for the full fiscal year ending 31 March 2024. “The financial forecast is based on judgements and estimates that have been made using currently available information. By their nature, such financial forecasts are subject to uncertainty and risk. Therefore, the final results may differ from the aforementioned forecast,” Nissan said.
The forecast sales volume has been lowered to 3.44 million units, net revenue to 12.6 trillion yen, and operating profit to 530 billion yen. Net income is forecast to reach 370 billion yen for fiscal year 2023. “The revision is due to a decrease in sales volume, various cost reliefs made to suppliers such as inflation, and other factors,” Nissan said.
Click for more.
Under the recently announced Arc business plan,* Nissan aims to increase annual global sales volume by 1 million units by the end of fiscal year 2026 and accelerate the company’s transition to electric vehicles. “To successfully deliver the plan, Nissan will adopt more efficient ways to collaborate with suppliers,” Nissan said. In other words at the moment the ARC is sinking.
*Nissan ARC Business Plan as announced on 25 March 2024
Nissan President and Chief Executive Officer Makoto Uchida said: “The Arc plan shows our path to the future. It illustrates our continuous progression and ability to navigate changing market conditions. This plan will enable us to go further and faster in driving value and competitiveness. Faced with extreme market volatility, Nissan is taking decisive actions guided by the new plan to ensure sustainable growth and profitability.”
AutoInformed on
About Ken Zino
Ken Zino, publisher (kzhw@aol.com), is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn. Zino is at home on test tracks, knows his way around U.S. Congressional hearing rooms, auto company headquarters, plant floors, as well as industry research and development labs where the real mobility work is done. He can quote from court decisions, refer to instrumented road tests, analyze financial results, and profile executive personalities and corporate cultures. He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe. Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap. AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks. Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.