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Nissan Motors has reported increased operating profit for the first-half of its fiscal financial year, ending September 30, 2015.
Japan’s second biggest car manufacturer has reported a sharp increase in operating profit and solid revenue growth. Operating profit rose to JPY395 billion (US$3.26 billion) for the first half of the 2015 fiscal year, representing a 6.7% margin on net revenues, up 15.3% to JPY5.93 trillion (US$49 billion) for the period.
Strong demand for new products in North America and Western Europe, combined with the benefits of continued cost discipline and the yen correction against the US dollar, offset declining market conditions in Japan and several emerging markets.
Nissan sold 2.62 million vehicles globally during the period, a 1.3% rise year-on-year. In China, passenger vehicle unit sales rose by 9.5% to 722,000 units during the first nine months. Despite slower demand in Japan and several emerging markets, the company continued to benefit from robust overall sales of award-winning models derived from the Common Module Family, developed within the Renault-Nissan Alliance.
A world leader in electric vehicles, Nissan’s cumulative sales approached 200,000 units. As part of its zero-emission strategy, the company announced in September that its best-selling all-electric Nissan LEAF will be available with a new, larger 30 kWh battery that delivers a more-than-20-percent-longer driving range between charges.
Nissan has increased its full-year profit forecast. “Our product offensive, continued financial discipline and ongoing benefits of our Alliance strategy is delivering better than expected results,” said Carlos Ghosn, Nissan’s President and CEO.