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Nissan: downward revision of full-year forecasts

( - Nissan has announced a revision of its financial forecasts for the full fiscal year 2023/2024 ending March 31, 2024.
This revision is linked to lower-than-expected sales, due in particular to inflation.

The automaker, which had already lowered its sales forecasts last February against a backdrop of intensifying competition, says it now expects only 3.44 million deliveries for the fiscal year, compared with 3.55 million units previously envisaged.

Its annual sales are now expected to come in at 12,600 billion yen, compared with 13,000 billion yen previously anticipated.000 billion yen.

The operating profit forecast has been reduced from 620 to 530 billion yen, while the net profit target has been revised from 390 to 370 billion yen.

As part of the recently announced Arc business plan, Nissan aims to increase annual worldwide sales volume by one million units by the end of fiscal 2026, and to accelerate the company's transition to electric vehicles. To achieve this plan, Nissan will adopt more effective ways of collaborating with its suppliers.

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