2019 FY first quarter has been pretty much difficult for Nissan

MANILA: This year’s first quarter has not been good for Nissan, which is clear from the company’s financial status of Q1, which ended on 30th June 2019. The carmaker has reported a decline of 98.5% in profits in the first quarter of this year over the previous year. This has resulted in slumping of income by 94.5%.

During last year’s Q1, the operating profit had been JPY 109.1 billion (PHP 51.29 billion). However, the figure has been down to just JPY 1.6 billion (PHP 0.75 billion). On the other hand, the net income for the quarter has been reported to be just JPY 6.4 billion (PHP 3.01 billion) a sharp decrease when compared to the 115.8 billion (PHP 54.44 billion) of the previous year.

After the end of Q1, the Japanese automaker's global total industry volume is reduced by 6.8% to 22.5 million units, while the global sales of the manufacturer have also been declined by 6% to 1.23 million units. In the Japanese market too, the carmaker has suffered a substantial sales loss by 2.6% to 126,000 units. The company has lost a market share of 2.5% in the European market as the sales count is decreased to 135,000 units. While on the other markets, it has witnessed a sales drop of 174,000 units.

However, the Philippines has shed some light on the company’s one of the darkest times, thanks to the fair growth in sales. When the island’s market was going through a tough time in 2018, the Japanese marque had reported around 40% growth. The carmaker had sold a total of 34,952 units during that time. 

The company’s growing performance figures helped it to achieve a market share of 8.7%. The Navara pickup truck contributed the most with an increment of around 46.2% of the company’s total sales in 2018. 

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