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Companies

Nissan slashes profit outlook as North American sales stall

New CFO says incentives for US dealers will be lowered

Stephen Ma, Nissan Corporate Vice President, speaks at financial results briefing. (Photo by Kei Higuchi)

TOKYO -- Nissan Motor on Tuesday lowered its net profit forecast for the full year through March 2020 to 110 billion yen ($1 billion), down 66% from the previous year and the lowest since fiscal 2009, the carmaker said Tuesday. 

Its latest outlook is down 35% from its previous forecast in May. The Japanese carmaker continues to struggle, as demonstrated by its continued lackluster sales in North America and emerging markets.

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