Japan's Nissan reports better profit as chip crunch eases
Nissan has reported a 55% jump in its October-December profit, as the Japanese automaker gears up for a less bumpy journey with its French alliance partner Renault
By YURI KAGEYAMA
Published - Feb 09, 2023, 05:27 AM ET
Last Updated - Jun 22, 2023, 10:29 PM EDT
TOKYO (AP) — Nissan reported a 55% jump in its October-December profit Thursday, as the Japanese automaker gears up for a less bumpy journey with its French alliance partner Renault.
Profit for the quarter at Yokohama-based Nissan Motor Co. totaled 50.6 billion yen ($386 million), up from 32.7 billion yen in the previous year.
Quarterly sales surged 29% to 2.8 trillion yen ($21 billion), as a shortage of computer chips that has bedeviled the world’s automakers gradually eased, according to Nissan.
The crunch was caused by pandemic-related disruptions that also hindered Nissan’s ability to deliver its vehicles to customers.
