Nissan has announced its financial results for the fourth quarter of the year and has reported some positive and some not-so-positive figures.
As the car industry began to bounce back at the end of 2020 following a difficult first quarter, Nissan’s sales volume “grew significantly” in the fourth quarter compared to the third quarter, although it didn’t actually release any figures to demonstrate this. Nevertheless, the Japanese car manufacturer adds that it made “notable improvements in the quality of sales, optimized sales incentives, and reduced inventory” throughout the final quarter of the year.
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From the financial side of things, Nissan reports an operating loss of $1.37 billion (150.7 billion yen) for the 2020 fiscal year. While that is better than the full-year forecast at the beginning of the year, it is much higher than the $366 million (40 billion yen) shortfall posted in the previous year, marking the worst performance for the brand in 12 years.
During 2020, the company’s consolidated net revenue declined to 7.86 trillion yen from 9.87 trillion yen throughout the 2019 fiscal year. However, revenue did increase to 2.54 trillion yen in the fourth quarter of 2020 which was an improvement on the 2.37 trillion yen of Q4 2019.
In a press release announcing the results, Nissan was keen to point out that it is making steady progress “to rationalize, to prioritize and focus on Nissan’s strengths, and to build a sustainable foundation for long-term growth,” adding that it has also seen strong early sales for the Rogue in the U.S. and the all-new Note e-Power.