Nissan sales suffer over scandal, but U.S. tax reforms help
|CTVnews 08 Feb 2018 at 07:24|
Dubbed the "370Zki," this custom built one-off 332-horsepower 370Z Roadster is ready to tackle ski slopes and backwoods trails with its front skis and rear snow tracks. The Nissan 370Zki makes its world debut this week at the 2018 Chicago Auto Show. (John Konstantaras/AP Images for Nissan North America)
Published Thursday, February 8, 2018 7:16AM EST
TOKYO -- A perk from U.S. tax reforms is helping lift Nissan s fiscal third quarter profit, although costs had to be earmarked and sales were dented by news of improper vehicle inspections at its plants in Japan.
Nissan Motor Co. reported a October-December profit of 301.6 billion yen (US$2.7 billion), up dramatically from 131.7 billion yen a year earlier.
The tax reforms under President Donald Trump are a boost for Japanese automakers.
The company said quarterly sales fell 2 per cent to 2.88 trillion yen ($26 billion).
Nissan acknowledged last year that unauthorized workers were routinely conducting inspections. The faulty inspections affected only vehicles sold in Japan, not exports.
Nissan, allied with Renault SA of France and Mitsubishi Motors Corp. of Japan, recalled more than a million vehicles in Japan for further inspections.