After seeing a huge jump in their quarterly profit from October to December, Nissan actually raised their earnings forecast for the fiscal year, which looks to be a successful year for the Japanese auto company.
In fact, their quarterly profit increased by an astonishing 21 percent, which many are citing as a result of the cheap yen. This has seriously impacted sales overseas. U.S. sales are reportedly strong as well, particularly that of the Rogue and Altima.
Nissan now expects to earn about $3.5 billion in profit this fiscal year through March, whereas previously, they were only expecting to achieve around $3.4 billion. Those numbers are pretty close, but you have to remember – we’re talking about billions here.
Weak yen aside, Nissan’s spectacular sales are also due in part to their positive association with electric cars, like the Nissan Leaf. Though sales of the Leaf are still low compared to more conventional models, it remains one of the most popular electric cars in the world.
It’s no surprise that the Nissan earnings forecast have raised, and perhaps, it could even get pushed higher as their winning streak continues.