Nissan posts Q3 net loss 83.2 billion yen

Nissan Motor Co. Ltd. announced its financial results for the third quarter of financial year 2008, ending March 31,2009. There was a net loss after tax came to 83.2 billion yen from the same period a year ago This loss occur because of the severe downturn in the global economy in the second half of the year 2008 and a sharp decline in the consumer confidence in all major markets of the world.

Net revenue was down 34.4% to 1.8165 trillion yen (US $17.65 billion, euro 12.02 billion). Nissan's operating loss totaled 99.2 billion yen (US $0.96 billion, euro 0.66 billion). Ordinary loss amounted to 1127 billion yen (US $1.1 billion, euro 0.75 billion).

Nissan sold a total of 731,000 vehicles worldwide in the October-to-December 2008 period, down 18.6%. Compared with the previous year net income after tax totaled 43.2 billion yen, down 87.5% in the April to December 2008 period. Net revenue fell 14.7% to 6.6858 trillion yen. Operating profit totaled 92.5% billion yen, down 84.0%. Operating profit margin came to 1.4%. Ordinary profit amounted to 90.0 billion yen, down 84.0%.

Globally, Nissan sold a total of 2,633,000 vehicles in the first nine months, down 3.0% compared with last year. In financial year 2008, Nissan will launch a total of eight all-new products globally. Four new products were introduced in the third quarter: NP200 in South Africa and KIX mini-SUV, Cube and Fairlady Z in Japan.

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