The big news was the launch of Nissan LEAF last October. Nissan and Renault hope to sell 1.5 million EVs by 2016. Under this optimistic plan, 500,000 EVs would be produced annually by 2015.
Nissan Motor Co., Ltd. reported consolidated net revenues of ¥6.4 trillion, 19.4% higher than the year-ago level. Operating profit increased 96.1% to ¥448.9 billion for the first nine months of its fiscal year, the second largest automaker in Japan said in a statement.
Globally, the total industry volume in the first nine months was up 12.9% from the same period a year ago, with the largest increase in the world’s largest market- China, up 34.8%.
Year-to-date, Nissan’s global sales are up 20.5% from the prior year, to 3.018 million units. Nissan’s increase was not only from emerging markets such as China, but also from developed markets including the U.S., where the Altima is hot, and Europe.
As a result, net income rose to ¥288.4 billion, more than five times the nine-month revenue in fiscal 2009. Free cash flow for the auto business totaled a ¥212.5 billion. Automotive net cash was ¥42.9 billion.
Nissan, 44% owned by Renault SA, now expects net income of ¥315 billion ($3.8 billion) for the year ending March 31, compared to its previous guidance of ¥270 billion.
“Our results show that we are consistently moving forward in the right direction,” said Joji Tagawa, Corporate Vice President, Investor Relations.
For Q3, the three months 31 December 2010, Nissan’s net income rose 78% to ¥80.1 billion from ¥45 billion a year earlier.. Revenue rose 5% percent to ¥2.1 trillion yen while vehicle sales gained 14 percent to 1.01 million.
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, 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.
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 during a downshift 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.
