Nissan Profits Tank By 6.4% Last Year Due To Heavy Discounts And Currency Fluctuations

Nissan Motor Co. reported a 6.4 percent drop in operating profit in the just-ended fiscal year as foreign exchange losses and rising incentives undercut earnings.

Operating profit declined to 742.2 billion yen ($6.67 billion) in the fiscal year ended March 31, CEO Hiroto Saikawa said Thursday while announcing financial results.

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MDarringer - 5/11/2017 11:00:09 AM

+4 Boost

So what does Renault do? Buy a sick yet another brand to be a money draw. We really do need to stop acting like Nissan is a separate entity. Renault controls it and has been detrimental to Nissan from the beginning. When they bought into Mitsubishi, both Renault and Nissan were not strong in their respective markets. Nissan fell off being taken seriously against Toyota and Honda years ago. Renault has its hands full in a European market with overcapacity.

TheSteve - 5/11/2017 1:12:44 PM

+3 Boost

It's not just Nissan that's feeling the pinch. Their "heavy discounts" are a reaction to lagging sales, and they're not the only auto company that's feeling lagging sales worldwide.