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Nissan Motor Global Production off 14%, Sales -13%

No surprise that China is only market up significantly.

by on Sep.28, 2009


One of the issues facing Japanese makers is the value of the Yen. It is currently trading at less ¥90:$1, which means decreased revenue.

Nissan Motor Co., Ltd. today announced its global production in August decreased 13.7% year-on-year to 217,954 units. In the U.S., production decreased 31.4% to 33,598 units. In China, production saw a significant increase of 60% year-on-year to 44,441 units marking an all-time record for the month of August.

Global sales for Japan’s third largest automaker decreased 0.2% year-on-year to 299,400 units, compared to the same month last year. Year-to-date sales are down 13%.

China recorded a record month in August, with sales up a significant 67% year-on-year to 62,937 units due to continued demand for Teana, Sylphy and Tiida models. Sales in other regions were down 26% from the previous year to 37,994 units

Export business was off sharply in August decreasing 36% year-on-year to 38,566 units. Exports to North America, where Nissan traditionally earns half of its profits, declined 29%. There are unconfirmed reports coming out of Japan that claim Nissan will drop production of its Q56 full-size SUV from Mississippi  back to Japan next years. Nissan has lost billions on its failed foray into full-size pickup trucks and SUVs for the U.S. market.

Nissan’s forecast for the full fiscal year is an operating loss of ¥100 billion ($1.05 billion based on ¥95:$1) and net loss of ¥170 billion yen ($1.79 billion). One of the issues facing all Japanese automakers is the value of the Yen. It is currently trading at less ¥90:$1, which means decreasing revenue for all export dependent automakers at the same time that sales are depressed.