Oh my Ghosn… Nissan announces first decline in profits since 2000

For the first time since 2000 when “Le-Cost-killer” Carlos Ghosn took over the fates of Nissan as CEO, the Japanese firm announced a drop in profits. Specifically, for the financial year that ended in 31 March (FY2006) Nissan’s net profits fell 11,1% to 460.8 billion yen ($3.9 billion). We should note though that due to restructuring costs associated with reducing the size of the workforce in Japan and the US. Group net profit plunged to 82.16bn yen from 152.37bn yen (-46%) in the first quarter of the 2007. -Continued after the jump

In terms of sales, in the 2006 Financial Year, Nissan’s global sales were 3,483,000 units, down 2.4%. More specifically, in the US sales came to 1,035,000 units (-4.0%), in Japan, to 740,000 units (-12.1%) and in Europe to 540,000 units (-0.2%). Sales in General Overseas Markets were 1,168,000 units, an increase of 5.1%.

Via: Just Auto (sub. Req)