Nissan Motor Co., the Japanese automaker generally credited with staging the fastest recovery from last year’s earthquake and tsunami has underscored its rapid turnaround by reporting record sales for the 2011 fiscal year.
The maker reached an all-time record selling 4.8 million vehicles in 2011, with profits for the fiscal year that ended March 31 gaining 7%, to 341.1 billion yen. But the big jump occurred during the final quarter of the 2011 fiscal year, Nissan profits more than doubling, to 75.3 billion yen, or $943 million, up from 30.8 billion yen a year ago.
With production back to full speed after the disaster-led cuts of last year, Nissan is nothing but optimistic about the future, the maker forecasting further earnings gains on worldwide sales it expects to reach yet another record of 5.3 million for the 2012 fiscal year, which began on April 1. And it is predicting a 28% increase in earnings.
“As we start the new year, Nissan stands as a company re-tooled and ready to accelerate its growth,” said Carlos Ghosn, who serves as CEO of both Nissan and its global alliance partner Renault.