ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Nissan, Honda see double-digit profit gain as chip shortage eases

EV development costs, higher rates cast shadow over bullish forecast

A Nissan Leaf electric vehicle at the Canadian International Auto Show in 2020. Investment into EVs is weighing heavily on Japan's automakers.   © Reuters

TOKYO -- Nissan Motor and Honda Motor expect double-digit growth in net profit for the year ending March 2024 as the chip shortage wanes, though the Japanese automakers face challenges from tough competition in China and surging U.S. interest rates.

"It's a tough environment, but production volume will grow from our new models and the recovery in the semiconductor supply chain," Nissan President and CEO Makoto Uchida said Thursday at an online earnings event.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more