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Nissan sales up but profit dips on costs, China slowdown

2017-07-28 07:09

THROWING A LIFELINE: Nissan is in talks with Mitsubishi to acquire a 34% stake in the scandal-hit Japanese automaker. Image: iStock

Tokyo — Japanese automaker Nissan Motor Co. says that despite strong overall sales its quarterly profit dipped, squeezed by rising costs and slowing growth in China.

The company said Thursday that its April-June net profit was $1.2 billion, down 1% from 136.4 billion yen the same period the year before. Quarterly sales climbed 4% to $24.8 billion.

Nissan, which makes the Leaf electric car, March subcompact and Infiniti luxury models, stuck to its full year forecast through March 2018, for $4.8 billion profit on $106 billion sales.

Yokohama-based Nissan sold 1.35 million vehicles in the quarter, up 5% on year. Vehicle sales rose in Japan, the US, China and Europe, Nissan said.

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