Nissan raises full-year profit target despite parts shortages and lower production

The upbeat forecast comes despite Nissan having to trim production in recent months in response to an outbreak of Covid-19 in south-east Asia that disrupted its access to chips and other key parts

Japanese car giant Nissan expects to generate higher profits than expected, this year, despite lower production levels.

Nissan has raised its annual operating profit outlook, a promising sign the carmaker is still on track to climb out of the red this year despite parts shortages that have hammered production.

The Japanese carmaker raised its forecast to an operating profit of 180bn yen (€1.4bn) for the fiscal year through March, from 150bn yen announced in July. Analysts are projecting, on average, 159bn yen. For the July-September quarter, Nissan reported an operating profit of 63bn yen, compared with the 1.7bn yen loss predicted by analysts.