Midway through Nissan 180, the firm’s three-year business plan, record operating profits are attributed to a combination of higher volumes from new products and lower costs ahead of the official audited company report due for release on November 6.

Midway through Nissan 180, the firm’s three-year business plan, record operating profits are attributed to a combination of higher volumes from new products and lower costs ahead of the official audited company report due for release on November 6.

Nissan Motor Company announced that it expects to report an 11,3 per cent operating profit margin and a 15,2 per cent increase in operating profits, to 401,1 billion yen, for the first half of fiscal year 2003.

“We have been faced with adversities on many fronts - from lower industry volumes and record levels of incentives to fluctuating exchange rates and uncertainty in global markets. Even so, Nissan is again reporting record operating profits,” said president and CEO Carlos Ghosn. “We remain very focused. We will systematically pursue our NISSAN 180 drive to establish lasting, profitable growth.”

Ghosn also mentioned that two previously announced investment decisions started operations in the first half of fiscal year 2003. The company’s automobile manufacturing plant in Canton, Mississippi, produced its first model in May, just 25 months after ground was broken to construct the facility. In July, Dongfeng Motor Co Ltd - Nissan’s 50-50 joint venture with Dong Feng - started operations as the first Sino-foreign full-line automobile joint venture in China with product lines ranging from passenger cars to light commercial vehicles, buses and trucks.

In Japan, Nissan’s sales volume rose 0,9 per cent to 387,000 units in the first half. In the United States and Europe there was an increase of 11 per cent and 6,6 per cent respectively, while the general overseas markets (including South Africa) saw a 5,3 per cent increase to 393,000 unit sales.

Original article from Car