Nissan posts record profits of €6.4 bn

Nissan has posted a record 825 billion yen (€6.4 billion) operating profit for the year to March 31st.

Nissan has posted a record 825 billion yen (€6.4 billion) operating profit for the year to March 31st.

Nissan President and chief executive Mr Carlos Ghosn attributed the continued profit growth, up 11.9 per cent from the previous year,  primarily to the increased sales volume across the world.

In the fiscal year to March 2004, Nissan registered global vehicle sales of 3.06 million units, up 10.4 per cent from a year earlier.

"This is the first time in 13 years that Nissan has sold more than three million vehicles," Mr Ghosn said.

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By region, Nissan saw major progress in penetrating the US market, where its market share soared to 5.1 per cent in the fiscal year just ended, up by 0.7 percentage points from a year earlier.

However, Mr Ghosn said his firm has never sacrificed profitability in achieving a higher market share in the United States, saying that Nissan "stayed [its] course", in terms of sales incentives in the United States.