Nissan reports first-quarter results and outlook for FY2020
YOKOHAMA, Japan – Nissan Motor Co., Ltd. today announced financial results for the three months ended June 30, 2020, and the outlook for fiscal year 2020. In the first quarter of the fiscal year, global industrywide auto sales fell by almost half amid the COVID-19 pandemic, impacting Nissan’s sales significantly. Nissan’s plants have since resumed operations but face reduced utilization of their capacity due to lower sales.
Nissan’s global sales declined 47.7% to 643,000 vehicles. The company’s global market share fell 0.3 points from a year earlier to 5.2%. Meanwhile, the company’s market share rose to more than 11%, driven by sales of the new Nissan Roox “wagon-type” kei car, which started in March.
Given the continuing effects of COVID-19 on the global market, Nissan expects a lower business volume in fiscal year 2020. Nissan forecasts global total industry volume to decrease 16% from a year earlier to 72.04 million vehicles. For the full year, Nissan’s global retail volume is expected to decline 16.3% to 4.125 million vehicles, on par with the market trend.
Jul 28, 2020 at 16:27