Nissan Sees Full Output by October
TOKYO (TheStreet) -- Nissan (NSANY), the No. 2 Japanese carmaker, swung to a profit in its fiscal fourth quarter as global vehicle sales reached record highs. The company's CEO also said production would be back to normal by October.
Nissan earned 30.77 billion yen ($380 million) for the quarter ended in March, compared with a year-earlier loss of 11.6 billion yen.
Nissan said sales rose 10% to 2.35 trillion yen.
Nissan said global vehicle sales for the fiscal year rose 19.1% to 4.185 million units. For the year, global market share was 5.8%.CEO Carlos Ghosn said production at Nissan's worldwide plants would return to normal by October after being hurt the last two months by the March 11 earthquake and tsunami in Japan. After that, Ghosn said the automaker would make up for lost production. Toyota (TM) said Wednesday it would move more quickly than expected to reboot its U.S. production. Nissan didn't offer guidance for 2012. -- Written by Joseph Woelfel
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