Nissan Raises Profit Outlook Despite Supply Disruptions
- Automaker pushes turnaround plan amid Covid, chip shortage
- Sales forecast cut despite higher profit recovery outlook
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Nissan Motor Co. raised its annual operating profit outlook, a promising sign the automaker is still on track to climb out of the red this year despite parts shortages that have hammered production.
The Japanese carmaker raised its forecast to an operating profit of 180 billion yen ($1.6 billion) for the fiscal year through March, from 150 billion yen announced in July. Analysts are projecting, on average, 159 billion yen. For the July-September quarter Nissan reported an operating of 63 billion yen, compared with the 1.7 billion yen loss predicted by analysts.