TOKYO – Nissan is banking on North America to lead a global sales surge this fiscal year, as production comes back online and key models capture more revenue per unit.
Nissan on Thursday said it expects retail deliveries in North America to soar 29 percent to 1.32 million vehicles in the current fiscal year ending March 31, 2024. The market will anchor what Nissan predicts will be a 21 percent expansion in global sales to 4.0 million units.
Europe will contribute a 27 percent sales increase, but from a smaller base. Nissan's sales there are seen growing to 390,000 in the current fiscal year, from 308,000 the previous one.
CEO Makoto Uchida outlined the forecasts as Nissan reported a 52 percent increase in operating profit in the just-ended fiscal year, despite a 15 percent drop in worldwide sales.
Nissan is confident growth will be rekindled as semiconductor supply returns to normal.
"Gradual recovery will take place, then quality of sales and productivity will bear fruit," Uchida said. "We will be able to manufacture, and that will serve as the backdrop for increased sales."