Nissan's Financial Performance in Q3

Nissan Motor Corporation announced a revenue of ¥3.1 trillion (~$20.5 billion) for the third quarter of fiscal 2024, marking a 1.6% increase from the previous year. Despite this growth, the company faced a net loss of ¥14.1 billion, a stark contrast to the ¥29.1 billion net income recorded in the same period last year.

Operating Profit and Sales Decline

The operating profit also saw a significant drop to ¥31.1 billion from ¥141.6 billion. Global retail sales for the year-to-date decreased by 1.8%, totaling 2.4 million units, with China experiencing the most substantial decline at 9.1%. The third quarter alone saw a 2.2% drop in global retail sales, amounting to 801,000 units.

Revised Full-Year Outlook

Nissan has adjusted its full-year forecast for fiscal 2024, expecting net revenue to reach 12,500 billion yen. However, the operating profit is anticipated to be 120 billion yen, a decrease from earlier predictions due to adjustments in volume and increased incentives, partially mitigated by favorable foreign exchange rates. The company also expects a net loss of 80 billion yen.