On April 21, Nissan recently stated that due to lower-than-expected car sales, various cost reductions for suppliers due to inflation, and other factors, Nissan has decided to lower its operating profit forecast for the current fiscal year by 14.5%.
Following the revision, Nissan expects a net profit of ¥3700.0 billion (approximately ¥173 billion RMB) for the fiscal year ending March 31, 2024, a decrease of ¥20 billion from previous estimates.
Nissan stated that total car sales for the current fiscal year are expected to reach 3.44 million units, with both profit and sales for the previous fiscal year falling short of expectations.
While the Chinese market remains one of Nissan's important markets, in recent years, intensified competition in the Chinese new energy vehicle sector has dampened Nissan's sales momentum.
Data shows that Nissan's China sales for the whole of last year were 793,000 units, a year-on-year decrease of 24.8%, marking the first time it fell below the million-unit mark.
In the first quarter of 2024, Nissan's cumulative sales in China reached 167,291 units, showing a slight year-on-year increase but still facing significant challenges.
Shohei Yamazaki, Chairman of Nissan China's Management Committee and President of Dongfeng Motor Corporation, stated, "The situation in the Chinese market remains complex in the first quarter of 2024."
Last month, there were rumors that Nissan's production capacity in China could be reduced by up to 30%, affecting Honda as well. Japanese brands are facing difficult times in the domestic market.
