Nissan Motor Company today in Japan announced weak financial results for the six-months ended 30 September 2024. Net revenue decreased by ¥79.1 billion year-over-year (YOY) to ¥5.98 trillion yen, with consolidated operating profit decreasing ¥303.8 billion to ¥32.9B. This was a paltry operating profit margin of 0.5%. Net income was ¥19.2 billion. Global sales volumes decreased year-on-year to 1.6 million units.#
“Profitability was affected by higher selling expenses and inventory optimization efforts, particularly in the US, along with rising manufacturing or monozukuri costs,” Nissan said in its earnings release.** Continue reading
Slight Improvement in J.D. Power 2024 Sales Satisfaction
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Customer satisfaction with the vehicle purchase process continues to rise as new-vehicle inventory and pricing improve year over year, according to the J.D. Power 2024 U.S. Sales Satisfaction Index (SSI) Study, SM released this week.* Overall customer satisfaction with the vehicle purchase experience is 801 (on a 1000-point scale), up from 793 in 2023.**
“In 2023, improvements in new-vehicle inventory and pricing moved customer satisfaction in an upward trajectory from the lows of 2022, and that’s apparent again this year,” said Stewart Stropp, vice president of automotive retail at J.D. Power. “It marks a return to form. As shoppers see a wider variety of vehicles to choose from, pricing becomes more competitive across the market. But this year’s study shows satisfaction with other parts of the sales experience has not improved nearly as much. Plenty of opportunity remains to optimize the path to purchase.” Continue reading →