Nissan lifted its annual guidance as its quarter two profits was excellent
The annual guidance of the Nissan Motor Co (7201. T) got raised. The company reported its quarterly operating profit doubling up with handsome sales of its new cars such as the March/Micra subcompact. The sales of those cars had compensated for the losses that the firm had to bear for currency rates.
Renault SA, the French automaker owned forty three percent of Nissan. Nissan has plans to outsell Honda Motor Co. to be the second largest automakers of Japan in this year with its market shares in countries like North America, Europe and China going up.
According to analysts Nissan will gather strong speed in the up coming months with its inventory levels on the lower side as the company’s production pace could not keep with the demand of the customers.
Carlos Ghosn, the CEO of the firm is seeking means and ways to increase the market shares of the company globally by outperforming its rival companies’ growth in up coming markets of China as well as the mature markets of Europe.
The company boosted by handsome sales raised its future forecast for sales for the fiscal that ends on March 2011 taking it to four decimal one million vehicles from the earlier projected figure of three decimal eight million vehicles.
In a further move the dual CEO of Renault as well as Nissan, Mr. Ghosn is trying to make the joint company, the leader of the auto industry in zero-emission vehicles. The company is taking the first move in the next month by delivering the first of the Nissan Leaf electric car to consumers of the United States as well as Japan.
The Company has expectations to have operating profits of four hundred and eighty five billion yen instead of the earlier projection of three hundred and fifty billion yen in the fiscal ending in March 2011. The company will grow by fifty six percent from the previous year.