Nissan raised its operating profit forecast for the year to March 31 by 17% to $1.82 billion, helped by cost cutting that improved margins
Like other big global carmakers, Nissan has been forced to cut vehicle output, even amid robust demand in key markets such as China and the United States because of a chip shortage caused by COVID supply chain disruptions and competition for the component from a range of industries.
That outlook is higher than a mean 194 billion yen profit based on estimates from 20 analysts, Refinitiv data shows. The scarcity of cars for consumers to buy also means that Japan's No. 3 carmaker has been earning more per car because it no longer needs to offer large financial incentives to lure consumers, particularly in the U.S.
"I am hoping we can get more semiconductors," Nissan Chief Financial Officer Stephen Ma said at the briefing.
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