Nissan Motor Co.’s strong quarterly earnings – and upgraded forecast for the full year – signal that its two chief Japanese rivals, Toyota and Honda, will also deliver solid numbers, industry analysts are forecasting.
Nissan delivered a 172.8 billion yen, or $1.4 billion, profits for the July-September quarter, the second in its fiscal year. That was up from 124.9 billion yen during the same period a year ago. And the maker said it expects to see a 17% increase in net income, to 535 billion yen, or $4.4 billion, for the full fiscal year ending next March.
“We are increasing our financial forecast for the full year as our product offensive, our continued financial discipline and the ongoing benefits of our Alliance strategy is delivering better than expected results,” said CEO Carlos Ghosn.