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Nissan profit rises 8 percent, cuts forecasts

4:49 AM, Nov 6, 2012   |    comments
(Associated Press)
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TOKYO (AP) -- Nissan says quarterly profit rose nearly 8 percent but the Japanese automaker lowered its full-year forecasts because of a sales slump in China and weakness in Europe.

Nissan Motor Co. on Tuesday reported a July-September net profit of 106 billion yen ($1.3 billion). Quarterly sales improved 5.5 percent to 2.4 trillion yen ($30 billion).

Nissan lowered its profit and sales forecasts for the business year ending March 2013.

Anti-Japanese sentiment has flared in recent months in China over a group of tiny islands controlled by Japan but also claimed by Beijing, setting off a boycott of Japanese products and some violent protests.

The Yokohama-based automaker said its vehicle sales grew in the U.S., Indonesia and India for the July-September quarter compared with the previous year.

Associated Press

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