Source: Finance Federation Author: Zhou Ziyi
① Nissan lowered its net profit forecast for fiscal year 2023 to 370 billion yen from the previous 390 billion yen; ② Facing today's difficulties in the electric vehicle industry, Nissan proposed a new business plan to accelerate the transition to electric vehicles; ③ Nissan emphasized that in order to successfully achieve this plan, it will cooperate with suppliers in a more effective way.
Due to factors such as declining sales and rising costs, Japanese automaker Nissan recently lowered its sales and profit expectations for the 2023 fiscal year ending March 31.
In a statement last Friday (April 19), Nissan stated, “Sales volume is expected to drop to 3.44 million units, net revenue to 12.6 trillion yen (US$81.6 billion), operating profit to 530 billion yen, and net profit for fiscal year 2023 is expected to drop to 370 billion yen.”
Previously, the company's estimated revenue for the fiscal year was 13 trillion yen, operating profit was 620 billion yen, and net profit was 390 billion yen.
The company said the reason for this reduction was due to factors such as declining sales and rising costs paid to suppliers.
In February of this year, Nissan had already lowered its sales forecast for fiscal year 2023 from 3.7 million units to 3.55 million units. The reasons given at the time were “temporary disruptions in logistics and increased competition.”
According to reports, Nissan will announce the full year results for the 2023 fiscal year on May 9 this year.
New business plan
Currently, many car companies exploring the field of electric vehicles are facing industry turmoil. Last year, China replaced Japan as the world's largest automobile exporter, thanks to China's dominant position in the global electric vehicle market.
On the 25th of last month, Nissan CEO Makoto Uchida announced the latest strategy, promising to increase the company's global profits, while also mentioning that Nissan aims to produce electric models at the same price as traditional internal combustion engine vehicles by 2030.
At the same time, Makoto Uchida also pointed out that Nissan has encountered difficulties in the Chinese market. “In the past five months, sales have improved, but we still have excess production capacity.”
Uchida added, “Through cooperation with our joint venture partners (China), we will continue to optimize our production levels and develop products that will allow us to grow in the market.”
On Friday (19th), the company emphasized that under its recent new business plan, it aims to increase global annual sales by 1 million units and accelerate the transition to electric vehicles by the end of the 2026 fiscal year.
“In order to successfully implement this plan, Nissan will work with suppliers in a more effective way,” the statement said.
Nissan's competitor Honda Motor also said last month that it is exploring the establishment of a strategic partnership in the field of electric vehicles to deal with “rare” industry turmoil.
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