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.
Automobiles
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
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