Nissan Reveals Surge in Profit and Sales as Focus Shifts to Electric Vehicles

In its recent financial report, Nissan revealed a significant increase in profit and sales for the fiscal year ending in March 2021. The Japanese automaker reported a 92% jump in profit, reaching 426.6 billion yen ($2.7 billion USD), while sales for the same period increased almost 20%, totaling 12.7 trillion yen ($81.5 billion USD). For the first quarter of the current fiscal year, Nissan’s profit decreased marginally to 101.3 billion yen ($650 million USD) from 106.9 billion yen in the previous quarter. Sales for the quarter reached 3.5 trillion yen ($22 billion USD). Chief Executive Makoto Uchida stated that the company aims to drive further growth through its “The Arc” strategy, which focuses on electric vehicles and began in the latest quarter. Nissan intends to preserve its position as a leader in electric vehicles in Japan through its upcoming Ariya sports utility vehicle. New US models set to be released include the Armada and Murano SUVs, as well as the Infiniti QX80 luxury model. Nissan predicts a net profit of 380 billion yen ($2.4 billion USD) for the forthcoming fiscal year ending in March 2025, although this represents a decline of 11% due to anticipated expenditures related to research and development, particularly regarding suppliers. Nissan’s sales have risen in the United States, Japan, and Europe, but declined by 24% in China amidst a price battle in a market dominated by domestic brands such as BYD, whose EV offerings are strong. Nonetheless, Nissan anticipates an improvement in global sales during the forthcoming fiscal year, with a projected figure of 3.7 million vehicles. Shares in Nissan closed 0.9% higher prior to the release of the financial report.