The Nissan ARIYA on the EV test track at the New York International Auto Show on March 28, 2024.
Nissan released its second-quarter results ended September on Thursday, which showed that it recorded a 9.3 billion yen (about $62 million) net loss, a reversal from the 190.7 billion yen net profit it made in the same quarter last year.
Operating profit in the second quarter plunged almost 85% year-on-year to 31.9 billion yen, while revenue dropped 5% to 2.99 trillion yen.
Nissan also sharply lowered its full-year outlook, cutting its revenue projection to 12.7 trillion yen from 14 trillion yen, while also reducing its operating profit forecast to 150 billion yen from 500 billion yen.
It aims to reduce fixed costs by 300 billion yen and variable costs by 100 billion yen, compared to its 2024 financial year.
Persons:
Makoto Uchida
Organizations:
Nissan, New York