Nissan expects recovery on a global scale

Updated May 13, 2022 | Same topic: Automotive Industry Updates

The company is on track to post its first profit in three years.

Nissan Motor is anticipating a rise in worldwide sales based on rebounding demand seen in the U.S. and other markets, although the projections are seen to be modest.

2023 Nissan Z

Nissan is keeping its income projections modest for the fiscal year ending March 2022

The Japanese automaker on Thursday said that it is looking forward to an 18.7 percent increase in revenue at 10 trillion yen (Php 4.06 trillion) for the year. It also forecasts global unit sales to bring 4 million yen for this fiscal year, an increase of 3 percent from last year.

“With the support of our employees and suppliers, we have been able to improve the quality of sales and optimize fixed costs,” said Nissan President & CEO Makoto Uchida in an online news conference. “Despite the difficult external environment, we are steadily achieving our stated goals.”

The company has been cutting down on incentives given to dealers especially in the U.S. market. It has also been moving away from “cheap sales” which are taking a toll on its earnings. With profitability per vehicle improving even as the Japanese yen has been weakening, Nissan is optimistic about being able to maintain its operating income at around the same level as last year.

2022 Nissan Frontier

The carmaker has been reducing its dealer incentives, especially in the U.S.

The carmaker expects a 257-billion-yen (Php 104.3 billion) loss on its operating profit, brought about by higher prices of materials as well as soaring operating costs. Net profit is also projected to fall by 30.4 percent following the sale of its entire stake in German carmaker Daimler AG in May 2021.

Net income for the year ending March 2022 stood at 215 billion yen (over Php 87.2 billion), marking the first time in three years that Nissan has posted a profit.

Nissan maintains an alliance with fellow Japanese brand Mitsubishi and French automaker Renault, the latter announcing plans to form a new electric vehicle venture with its partners early this year. “We are in a position to support Renault’s plans, but we would like to approach this issue after discussion on whether this will strengthen the alliance,” noted Uchida.

Get more news on how automakers are coping with global changes at Philkotse.com.

Know more about Nissan

Nissan

Nissan Philippines has a total of eight models in the market, excluding one upcoming vehicle which is the Nissan Magnite. The price list of Nissan vehicles in 2022 ranges from Php 728,000 to Php 3,988,000 for the cheapest Nissan Almera and most expensive Nissan Patrol, respectively. Meanwhile, the Nissan GT-R's price in the Philippines is available upon request so visit Nissan dealerships for inquiries. Nissan's best-selling models in the Philippine market are as follows: Nissan Navara, Nissan Urvan, and Nissan Terra.

At Philkotse.com, we provide you with the most up-to-date Nissan Philippines price list, along with promotions from all dealers, the best monthly installment programs, prepaid, and cash discounts in the Philippines market.

Joseph Paolo Estabillo

Joseph Paolo Estabillo

Author

Joseph holds a degree in Journalism from the University of the Philippines Diliman and has been writing professionally since 1999. He has written episodes for CNN Philippines' motoring show Drive, and has worked on corporate projects for MG Philippines and Pilipinas Shell. Aside from being Philkotse.com’s Content Lead, he also writes content for numerous car dealerships in the U.S., spanning multiple brands such as Alfa Romeo, Chrysler, Dodge, Jeep, and Maserati, among others.

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