Tokyo - Nissan Motor Company raised its profit forecast as the growth in US deliveries outweighed a slowdown in Japan and emerging markets.
Net income will be 420 billion yen ($3.5 billion) in the year ending March, compared with its previous projection for 405 billion yen, the Yokohama, Japan-based company said in a statement on Monday.
Chief Executive Officer Carlos Ghosn is counting on the US to buffer the effect of a recession in Russia and slowing growth in China.
Major automakers including Nissan all reported their best January US vehicle sales in at least seven years, buoyed by cheap gasoline and falling unemployment.
“The US is their biggest cash cow,” said Koji Endo, an auto analyst at Advanced Research Japan. “The strong trend will continue for a while and they will keep enjoying the ride in that market.”
Bloomberg