Nissan Motors has raised its net sales forecast to JPY 9.75tn ($88.7bn) from its previous outlook of JPY 9.1tn for this fiscal year (ending March 31, 2022).
Although the company expects a significant drop in sales in Q2 FY2021 because of the global semi-conductor shortage, it expects overall sales for the year to grow because of new vehicle launches in the market.
The firm expects its retail volumes in FY2021 to increase to 4.4 million units in FY2021 compared to four million units in FY2020.
The carmaker’s total sales volume in Q1 FY2021 rose by 62.9pc to 1.04 million vehicles compared to 643,335 units in the same quarter last year. The company’s sales in Japan alone increased by 6.8pc to 89,532 units in the first quarter of FY2021 against 83,829 units in Q1 FY2020.
Its revenue in Q1 FY2021 increased to JPY 2tn compared to JPY 1.1tn on an annual basis while operating profit increased to JPY 75.7bn in Q1 FY2021 compared to a loss of JPY 153.9bn in Q1 FY2020.