Nissan Clings To Profit After Sales Fall 31%
Agent009 submitted on 7/29/2009 Official Bell & Ross Timestamp: 1:09:28 PM
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Sliding sales in North America helped send operating profit at Nissan Motor Co.
tumbling 86 percent, but the Japanese automaker avoided a loss through heavy cost cutting.North American revenue fell 37.1 percent to 570.9 billion yen, or $5.97 billion at current exchange rates, in fiscal first quarter ended June 30, compared with a year earlier.
On a unit basis, North America posted the worst decline of any region. Nissan sold 225,000 vehicles in the period, or 31.6 percent fewer than the year before.
Despite the meltdown in demand, Nissan saw operating profit in North America climb to $368.6 million , from $105.7 million a year earlier.
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