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Nissan Expects 2017 Profits to Fall 7.7 Percent

Automaker says fall will come despite higher vehicle sales than 2016.

by on May.11, 2017

Jose Munoz, Nissan's chief performance officer, said company expects operating profits to fall 7.7% for 2017 due to currency issues and rising material costs.

Despite the fact that Nissan expects to sell more cars this year than it did last year, executives predict the automaker’s operating profits will fall 7.7% for 2017.

Japan’s second-largest automaker said rising raw material costs and unfavorable exchange rates are the primary drivers behind the loss. The company predicted its global sales will increase 3.6% this year, including a 1.2% jump in its largest market, the U.S., to 5.83 million units.

Global Auto News!

Overall, it also expects to keep its worldwide market share target at 8% for the near future despite the changes in the U.S. market. Officials said it should remain at 6.2% as it was last year. If you add in sales from its alliance partners Renault and Mitsubishi, sales will be about 10 million vehicles. (more…)