|
Nissan clings to 1st quarter profit
Nissan clings to 1st quarter profit; but more losses seen
Posted Wednesday, Jul 29, 2009, 1:10 pm in Employee News
Nissan Motor Co. posted an 86 percent fall in quarterly operating profit, hit by a stronger yen and declining sales, but avoided the loss analysts had expected by cutting costs aggressively, Reuters reported.
Predicting no convincing recovery in global car demand, Japan’s No.3 automaker kept its forecasts for an annual loss unchanged as a lack of hybrid cars overshadowed solid sales in China, the news service said. CEO Carlos Ghosn has previously said Nissan will focus on returning to positive free cash flow through joint cost-cutting efforts with French partner Renault SA, the story said.
While some bright signs are emerging on the sales front—Nissan has enjoyed stellar growth in China this year thanks to a lineup heavy in smaller cars that enjoy tax incentives—its lack of hybrid models has left it trailing the market in Japan, the news service said. For the first time, Nissan sold more vehicles in China than at home in the first half of the year, the story said. (Reuters/Automotive News)
__________________
Rick
Nitro Year: 2007 (1 of 113,000 sold)
Nitro Model: R/T 4X4 Stone White
CAT-BACK Exhaust, CAI, Projector Head Lamps
Fully-Equipped w/all factory options
|
Linear Mode
