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Nissan Posts ¥16.5 Billion Loss in First Quarter

Globally, Nissan sold a total of 723,000 vehicles in the April-to-June period, down 22.8%.

by on Jul.30, 2009

Nissan's Carlos Ghosn

"2009 continues to be a tough year, but we are beginning to see positive results from the measures taken under our Recovery Plan."

Nissan Motor Company  Ltd announced a net loss after tax of ¥16.5 billion ($170 million, euro €120 million) in the first quarter of fiscal year 2009, which ends March 31, 2010, compared to net income of ¥52.8 billion yen ($540 million) from the same period a year ago.

Net revenue fell 35.5% to ¥1.5 trillion ($15.55 billion). Nissan’s operating profit totaled ¥11.6 billion ($120 million), down 85.5%, while the ordinary loss amounted to ¥26.1 billion($270 million).

Globally, Nissan sold a total of 723,000 vehicles in the Q1 April-to-June period, down 22.8% compared to same period in 2008. In North America, sales were 225,000 units, down 31.6%. Sales in the United States were 173,000 units, down 31.5% in a market that continues to decline. In Japan, sales were 116,000 units, down by 21.6%. European sales were 118,000 units, down 24.6%. China grew with sales up by 9.3% at 145,000 units. Sales in other regions were down 29.8% to 119,000 units.

The first quarter saw the launch of three products  — Pixo in Europe, NV200 in Japan and G37 convertible in the United States. In fiscal 2009, Nissan says it will launch a total of eight all-new products globally.

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