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The Insurance Institute for Highway Safety says that seven of 11 small cars tested earn good or acceptable ratings in its new, tougher side-impact test, but four models are rated poor. The Mazda 3 sedan and Mazda 3 hatchback earn good ratings. Five other vehicles: the Nissan Sentra, Toyota Corolla sedan, Toyota Corolla hatchback, Honda Civic sedan and Honda Civic hatchback are rated acceptable. The Kia Forte, Subaru Crosstrek and the Subaru Impreza sedan and wagon are rated poor. (AutoInformed on: New Side-Crash Tests: Few Mid-Size Cars Rated Good)
IIHS created the updated side crash test after research showed that many of the real-world side impacts that still account for nearly a quarter of passenger vehicle occupant fatalities are actually more severe than the original evaluation. Continue reading
Nissan Motor Posts ¥156.6B Profit
Nissan Motor Corporation has announced financial results for the six-months ended September 30, 2022, and revised upward its full-year revenue and profit outlook for fiscal 2022. Consolidated net revenue increased by ¥715.3 billion to ¥4.66 trillion, with consolidated operating profit rising ¥17.5 billion to ¥156.6 billion, representing an operating profit margin of 3.4%. Net income (1) was ¥64.5 billion down ¥17.4 billion, from the previous year due to a one-time loss of ¥24.1 billion recorded in the second quarter because of the company’s withdrawal from the Russian market, and a decrease in equity in earnings of affiliates.
In the second quarter, free cash flow from the automobile business was a positive ¥206.6 billion. On a management pro forma basis, which includes the proportionate consolidation of results from Nissan’s joint-venture operation in China, operating profit was ¥212.6 billion, with an operating margin of 4.0%. (2)
Consistent with what other Japanese companies said during earnings week, increased revenue and operating profit were achieved despite “a severe business environment in the first half of the fiscal year, with raw material prices rising sharply and sales volume falling below the previous year’s level due to semiconductor supply shortages and the impact of COVID-related lockdowns in Shanghai, China,” Nissan said. (AutoInformed.com on Honda Posts a Profit of ¥453.4B for First Half FY Results) Continue reading →