Nissan Motor released its first quarter financial report for fiscal year 2024, with a sharp drop in net profit

Nissan Motor's financial report for the first quarter of fiscal year 2024 (April-June of the natural year) showed that its quarterly net revenue was approximately RMB 141.443 billion, an increase of 80.7% year-on-year. However, the consolidated operating profit was only RMB 47.179 million, a year-on-year decrease of 127.6%; the net profit was approximately RMB 1.349 billion, a year-on-year decrease of 76.9%. Global sales in the second quarter were 787,000 vehicles, the same as the same period last year. Although models within the brand such as Nissan Sylphy, Nissan Qashqai and Nissan Teana have sold well, overall profit margins are still under pressure.