RSS RSS Twitter Twitter
Leftlane - news, reviews, and info for the auto-industry
 
 

Nissan’s second quarter profit drops nearly 43 percent

08/01/2008, 1:48 PM

By paulee

Nissan on Friday reported its net profit dropped by 42.8 percent from the same time period last year, largely due to an increasing yen and the falling value of leased vehicles. The net profit is now 52.8 billion yen ($505 million), with sales that were also reduced by 4.1 percent to $22.4 billion.

“We have identified the major risks and taken actions to address them, particularly in the U.S. market,” said Chief Executive Carlos Ghosn in a statement, as per a Detroit News report. Despite the lower demand in the U.S. and in its home market, where Nissan is the third-largest automaker, the company remains on-track to post a profit of 340 billion yen ($3.3 billion) in the fiscal year, ending March 2009.

Globally, Nissan sold 6.9 percent more vehicles than in 2007, totaling 936,000. U.S. sales accounted for 253,000 units, representing a 1.5 percent drop from the previous year in a market that fell overall by 12 percent during the quarter.

    Print This Post

New car price quote

Zero obligation price quote from a trusted local dealer.
 
 

08/01, 1:51 PM

posted by:

crackerhemi

At least they still made some profit.

Their 2009 models should be a lot better; at least in terms of Infiniti. Their 7 speed automatic is making their way into most of their cars, which should increase their gas mileage.

08/01, 1:53 PM

posted by:

ktulu

At least they still made some profit.

08/01, 1:56 PM

posted by:

MyG35

Nissan need to address the issue of having more small displacement engines….< 1.8 l … Get the 7 speed in the M and may be a 4 cyl Infiniti ??

08/01, 1:57 PM

posted by:

ihustle

HAHAHA this is great. Guess the foreign brands are feeling the wrath of americas economy.

08/01, 2:14 PM

posted by:

RaineMan

The world does not need another 4-cyl Infiniti. The G20 was a joke. I don’t want to see a dressed up Sentra selling for $5000 more than it should.
What I would like to see is a Turbo-4 powered Z. A low option model with no leather selling for $23k. That would get a lot of people who want a sporty coupe but like good mileage too.

08/01, 2:20 PM

posted by:

johnnycanuck

Wait until they get that re-skinned Dodge Ram into the lineup. They’ll have to pull some long beds off the line just haul those profits away.

08/01, 2:20 PM

posted by:

crash1433

Wait a minute. ford an gm release a statement about losses due to falling residual values tied to their leases and everyone is up in arms about how domestics don’t hold thier value and poor build quality blah blah blah… Now nissan says the same thing. huh… maybe its tied to the entire market not just domestics. I can’t wait to hear the excuses from the import humpers on this one.

08/01, 2:26 PM

posted by:

tripleonefive

Well I dont see Honda or Toyota having this issue. Nissan is French they are owned by Renault. Also Im sure the resale is greater
I rented a Nissan Murano last weekend and it was heaven to drive Almost perfect with the exception of it could have had more cargo room but otherwise a great vehicle

08/01, 2:29 PM

posted by:

fuk-u-asshole

nissan is not owned by renault. it is an alliance 50/50

08/01, 2:31 PM

posted by:

fuk-u-asshole

and the G20 was not a dresses up sentra. It was based on the MK II EURO primera. that had one of the best fwd chassis dynamics.

08/01, 2:34 PM

posted by:

xyunya

We can smirk all we want about Nissan, but company reflective of its management. Ghosn resurrected Nissan from the grave and runs now both Renault and Nissan. And slump US economy hurts Nissan, like ANY business. But overall, you can’t compare Ghosn’s acumen and Ford/GM ineptness. Do you people believe Lutz can tie his shoes using his own intellect? What paper bag will confuse directional ability of Bill Ford ?

08/01, 2:35 PM

posted by:

global_lightning

That ‘turbo-4 Z’ is the planned 200SX. They can’t get it here soon enough

08/01, 2:36 PM

posted by:

xyunya

…and Renault owns 44% of Nissan, according to corporate papers.

08/01, 2:51 PM

posted by:

tripleonefive

were is Toyota and Honda’s 44% French ownership Mr Corporate Papers ? Nissan is japo french company. They are way better than GM but not better than Honda & Toyota

08/01, 2:53 PM

posted by:

monte

I drove two different murano’s about a month ago, they handled like steamboats and the CVT transmission felt like crap. Also one had a tire monitor system problem on the lot and the tires were not low.

08/01, 2:58 PM

posted by:

fuk-u-asshole

monte you are a bull****ter

08/01, 3:24 PM

posted by:

shaver

1115: Your mom rented you a Murano for prom? Did your cousin, I mean date let you drive?

08/01, 4:03 PM

posted by:

ihustle

*Fuk* Monte also said he came to my dealership. He lives in the world of make believe HAHAHAHA

08/01, 4:30 PM

posted by:

xyunya

Christopher, he did enough to pin point you. It’s Friday should you be selling used cars? Or no one visiting?

08/01, 6:01 PM

posted by:

ihustle

haha pin point? I admit where i work. No shame, remember. Aww still sticking up for your boy toy, cute, real fuc*in cute.

08/01, 6:27 PM

posted by:

monte

ibot, I never ever said I came to your dealer, find me the post.
.
And to fuk-u-asshole, why am I a bull****ter? Because you don’t agree with me. I drove the two murano’s a day after I drove a Torrent GXP. It handled loose and leaned around turns like it was too heavy for it’s own good. And to be more specific about the trans, I thought the murano would have better acceleration being right at peak power with the CVT, but it just hung there forever, and when you drove it normally, it did not give me any confidense in that ride.

08/02, 8:24 AM

posted by:

ihustle

My bad it was chester.*Monte* FYI that cvt slows down acceleration. I KNOW THIS FOR A FACT. Ford introduced it on there freestyle and it lasted two years before complaints about its acceleration made them change back to the 5 speed transmition. So again you have NO IDEA WHAT YOUR TALKING ABOUT, buttttttttt what else is new

08/02, 11:23 AM

posted by:

DeansterTJ

Is this the new thing, blaming losses on poor resale value after cars come off their lease? Seems everyone wants to blame an outside variable instead of just admitting that the MURANO LOOKS LIKE A GAY CROSS-EYED ALIEN TRANSEXUAL.

08/02, 4:19 PM

posted by:

gbb

I guess the gays are holding off on buying cars also.

08/02, 5:17 PM

posted by:

t-ak-box

I just heard on the Today Show that Nissan had record sales due to their Crossover. i guess you can’t believe everything you hear on TV these days. i guess the Cube and Z can’t come fast enough for them.

08/02, 10:26 PM

posted by:

beatusmongous

Tackle box, I don’t think the Cube is going to help Nissan that much. I sort of like it, but nearly everyone else I have asked has said they would never buy one because of the way it looks. The Z will help, but I think the Maxima and the Altima has more effect on their lineup than anything.

08/03, 5:01 PM

posted by:

fuk-u-asshole

MONTE a torrent GXP. that tacky POS. ****ing cheap ****. the only problem the murano has is the front , its ****ed up. I know the facelift model will more than fix that.
as for the torrent **** it needs a complete overhaul of everything

08/03, 5:30 PM

posted by:

monte

ihustle, reread my post, I said it made it accelerate slower, so you would be agreeing with me.

08/04, 8:32 AM

posted by:

ihustle

read it wrong my bad. Seamless shifts are a great idea, but when you have to surrender your acceleration, there is really no point.

08/04, 10:31 AM

posted by:

monte

The CVT in the saturn vue was just as bad, but at least you could opt for a regular 4 speed auto or 5 speed manual.

08/04, 11:53 AM

posted by:

Buhbye

Loss reports are just around the corner for Nissan. Dump your stock now.

08/04, 12:00 PM

posted by:

Buhbye

Oops! Toyota just dropped $2.45, and Honda lost $1.60. Nissan went up $.19, Ford up $.12
Sorry for all you fine Americans who bought Toyota at $125.00, now at $82. So sad you trusted them.

 
 
You need to log in with your user name and password before you can leave comments.

    

Forgot your Password?

Don't have a user name yet? Simply fill in the form below and click the link provided in the
confirmation email. You must supply a valid email address to complete the registration process.

  
 
 
 
 
  • Login
  • About
  • Contact
Please note that you need to log in with your user name and password before you can leave comments.
  

login
cancel
Forgot your Password?
Don't have a user name yet? Click here to register now.

Simply fill in the form below and click the link provided in the confirmation email. You must supply a valid email address to complete the registration process.

  
submit
cancel
Leftlane is the leading source for automotive industry and vehicle news, new car research, future vehicle information, and reviews. Read by car shoppers, driving enthusiasts, autoworkers, executives, and investors, the website is updated throughout the day with the very latest auto news - as it happens.

Leftlane also provides consumers with accurate and media-rich information on every car currently on the market. In-market shoppers can review specs, read overviews, view high-resolution images, watch videos, and estimate pricing. No other automotive publication brings together the same degree of timeliness, thoroughness and accuracy as Leftlane.
 
submit
cancel