Nissan reports surging profit amid strong sales, easing chip crunch
Japanese automaker Nissan is reporting a seven-fold surge in January-March profit and forecasting strong sales for this fiscal year riding on the popularity of its new model offerings
TOKYO (AP) — Japanese automaker Nissan reported Thursday a seven-fold surge in January-March profit and forecast strong sales for this fiscal year riding on the popularity of its new model offerings.
Nissan Motor Co.’s net profit for the fiscal fourth quarter totaled 106.9 billion yen ($798 million), up dramatically from 14.2 billion yen a year ago.
Quarterly sales jumped 36% to 3.097 trillion yen ($23 billion), amid an easing of the supply shortage of computer chips and other parts, which had been caused by social restrictions related to the coronavirus pandemic.
Chief Executive Makoto Uchida told reporters the automaker was preparing all-solid-state batteries for its electric models, as the world makes a rapid shift toward green zero-emissions technology.
