Transportation
Nissan Plunges Most in Five Months on Lower Profit Target
- Carmaker cuts profit outlook on weak sales in key markets
- CEO Uchida says focus now will be on clearing US inventory
This article is for subscribers only.
Nissan Motor Co. shares fell by the most since February after the automaker slashed its full-year profit target, citing weak sales in Japan and the US.
The Japanese automaker cut its operating-profit outlook to ¥500 billion ($3.3 billion) for the year through March 2025, down from its prior forecast of ¥600 billion and below the market consensus of about ¥570 billion. In the first quarter through June, Nissan’s profit unexpectedly fell to ¥995 million, missing even the lowest analyst estimate in a Bloomberg survey.