Nissan sees smaller loss, promises sales recovery

TOKYO (AP) — Nissan reduced its losses in the January-March quarter as restructuring efforts kicked in, despite damage to sales from the coronavirus pandemic, the Japanese automaker said on Tuesday.

Nissan Motor Co’s quarterly losses totalled JPY81 billion, a fraction of the JPY710 billion in red ink it racked up last year. Quarterly sales rose to JPY2.5 trillion from JPY2.3 trillion. Nissan Chief Executive Officer Makoto Uchida forecast a recovery in this fiscal year, which began in April 1. All automakers have suffered because of the pandemic, although some have proven more resilient than others.

Nissan projects its global vehicle sales will climb nearly nine per cent to 4.4 million vehicles from four million vehicles sold in the fiscal year that just ended. Vehicles sales are expected to rise in North America, Japan and China, the company said.

A woman walks by the logo of Nissan seen at the automaker’s showroom in Tokyo . PHOTO: AP