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Nissan's profits to beat Toyota, Honda


Nissan's profits to beat Toyota, Honda


Nissan has said it is on track to be the most profitable of Japan’s three big carmakers this year.

It enjoyed record sales last year and improved market share in every major region which pushed up its latest quarterly operating profit.

Nissan said it is looking at net profit which will be the equivalent of 2.75 billion euros for the year through to the end of March — that is ahead of Honda and Toyota’s forecasts.

Despite launching few new models, Nissan increased its global auto sales by 14 percent last year to 4.67 million vehicles, and CEO Carlos Ghosn, who also heads partner Renault, said he aims to achieve the scale he believes top carmakers need to invest in future technologies.

Nissan sold more than 1.2 million vehicles in the final quarter of 2011, up 19.5 percent, helping revenue grow 11 percent.

Among Japan’s three leading automakers, Nissan was the fastest to recover from both the earthquake last March and flooding in Thailand that ruptured supply chains. That was because it was able to swiftly source parts from its global network.

Nissan said it lost output of just 33,000 vehicles from the Thai floods, while Toyota and Honda each lost more than 200,000.

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