Japanese car major Nissan on Thursday said sales in markets including the Middle East, Africa, Asia and Oceania and Latin America, increased by 2 per cent to 607,000 units - beating the increase in Europe, including Russia, where sales rose by just 0.3 per cent to 544,000 units, despite an inspection scandal that hurt its figures.
The bigger increase in MEA, Asia and Ociania for the 12 months to the end of December was due amid rising demand for models such as the Nissan Kicks and Datsun redi-GO, Nissan said.
Vice president Joji Tagawa said it had been a "challenging" period for the car maker but that he saw some light at the end of the tunnel.
"We remain focused on improving the state of our business performance and our financial results despite market headwinds ... we expect to normalise our operations by the end of the fiscal year," he said.
"We take it very seriously so we are putting in place various measures to cope with the situation."
In China sales increased 12.2 per cent to 1.52 million units.
For the nine-month period to December 31, 2017, Nissan’s global unit sales were 4.109 million units, an increase of 2.9 per cent over the same period of fiscal year 2016.
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Read more:
Nissan to spend Dh34bn in push to crack China
Toyota profit surges 54 per cent in third quarter
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In Japan, unit sales increased by 9.7 per cent to 378,000 units as a sharp rise in mini-car demand offset a 3.4 per cent decrease in registered car sales to 252,000 units due to the damaging final vehicle inspection scandal. Because of that, the firm cut its forecast for full-year operating profit after saying the issue had "adversely impacted" the firm's performance.
Nissan said it now expects operating profit of ¥565 billion (Dh19.09bn) for the fiscal year to March 2018, a drop of 12.4 per cent from its previous estimate in November, according to AFP.
"During the period, the group's performance was adversely impacted by special items related to the final vehicle inspection issue in Japan, along with slowing sales growth, negative pricing trends and inventory adjustments in the US market," Nissan said.
Nissan was forced to recall some 1.2 million vehicles after admitting in October that staff without proper authorisation had conducted final inspections on some vehicles intended for the domestic market before they were shipped to dealers.
The car maker suspended all domestic production for a few weeks, sending its passenger car sales plummeting more than 55 per cent in Japan in October.
In a bid to atone for the inspection scandal, chief executive Hiroto Saikawa said he was "voluntarily" returning his pay, along with other executives.
Nissan's operating profit for the nine months to December 2017 was ¥364.2bn, a 27.6 per cent decline from the same period last year.
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2018 ICC World Twenty20 Asian Western Sub Regional Qualifier
Event info: The tournament in Kuwait this month is the first phase of the qualifying process for sides from Asia for the 2020 World T20 in Australia. The UAE must finish within the top three teams out of the six at the competition to advance to the Asia regional finals. Success at regional finals would mean progression to the World T20 Qualifier.
UAE’s fixtures: Fri Apr 20, UAE v Qatar; Sat Apr 21, UAE v Saudi Arabia; Mon Apr 23, UAE v Bahrain; Tue Apr 24, UAE v Maldives; Thu Apr 26, UAE v Kuwait
World T20 2020 Qualifying process:
- Sixteen teams will play at the World T20 in two years’ time.
- Australia have already qualified as hosts
- Nine places are available to the top nine ranked sides in the ICC’s T20i standings, not including Australia, on Dec 31, 2018.
- The final six teams will be decided by a 14-team World T20 Qualifier.
World T20 standings: 1 Pakistan; 2 Australia; 3 India; 4 New Zealand; 5 England; 6 South Africa; 7 West Indies; 8 Sri Lanka; 9 Afghanistan; 10 Bangladesh; 11 Scotland; 12 Zimbabwe; 13 UAE; 14 Netherlands; 15 Hong Kong; 16 Papua New Guinea; 17 Oman; 18 Ireland
Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million
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Blackpink World Tour [Born Pink] In Cinemas
Starring: Rose, Jisoo, Jennie, Lisa
Directors: Min Geun, Oh Yoon-Dong
Rating: 3/5
The National Archives, Abu Dhabi
Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
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The specs
Engine: 2.7-litre 4-cylinder Turbomax
Power: 310hp
Torque: 583Nm
Transmission: 8-speed automatic
Price: From Dh192,500
On sale: Now
Cinco in numbers
Dh3.7 million
The estimated cost of Victoria Swarovski’s gem-encrusted Michael Cinco wedding gown
46
The number, in kilograms, that Swarovski’s wedding gown weighed.
1,000
The hours it took to create Cinco’s vermillion petal gown, as seen in his atelier [note, is the one he’s playing with in the corner of a room]
50
How many looks Cinco has created in a new collection to celebrate Ballet Philippines’ 50th birthday
3,000
The hours needed to create the butterfly gown worn by Aishwarya Rai to the 2018 Cannes Film Festival.
1.1 million
The number of followers that Michael Cinco’s Instagram account has garnered.
TRAP
Starring: Josh Hartnett, Saleka Shyamalan, Ariel Donaghue
Director: M Night Shyamalan
Rating: 3/5
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BEETLEJUICE BEETLEJUICE
Starring: Winona Ryder, Michael Keaton, Jenny Ortega
Director: Tim Burton
Rating: 3/5
The drill
Recharge as needed, says Mat Dryden: “We try to make it a rule that every two to three months, even if it’s for four days, we get away, get some time together, recharge, refresh.” The couple take an hour a day to check into their businesses and that’s it.
Stick to the schedule, says Mike Addo: “We have an entire wall known as ‘The Lab,’ covered with colour-coded Post-it notes dedicated to our joint weekly planner, content board, marketing strategy, trends, ideas and upcoming meetings.”
Be a team, suggests Addo: “When training together, you have to trust in each other’s abilities. Otherwise working out together very quickly becomes one person training the other.”
Pull your weight, says Thuymi Do: “To do what we do, there definitely can be no lazy member of the team.”