Nissan’s Financial Performance for April & May Exceeds Expectations

Nissan's financial performance in April and May turned out better than expected, the automaker's president said at the annual general meeting (AGM) on Tuesday.

The announcement to shareholders comes after the automaker's forecast last month that its sales would break even for the fiscal year that began on April 1.

"But we already see signs of recovery. Thanks to the strong results of our ongoing efforts over the past year, Nissan's performance for April and May is better than our plan”, said Nissan's CEO - Uchida. 

The global Nissan team is "doing everything it can" to avoid three consecutive years of losses, the CEO added.

Nissan, like many other automakers, has been making production adjustments because of a global chip supply shortage. 

"As we pay close attention to the market trends and adjust production of models, we are minimizing the negative impact of the semiconductor supply issue on the plant utilization rate”, Uchida said. He added that the company was trying to make up for the production loss within the financial year and to take action to ensure stability in its supply of parts.

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