Nissan confirms highest ever annual sales in 2010 financial statement

Japanese car manufacturer, Nissan, has today announced its 2010 fiscal year financials for the year ending 31st March 2011. The figures show that Nissan achieved the highest sales figures the company has ever experienced, with net revenues of 8.7731 trillion yen.

Net profits for the year were 319.2 billion yen (equivalent to approximately $3.7 billion/£2.4 billion), compared with just 42 billion yen for the 2009 reporting period.

Nissan confirmed that it sold 4.185 million vehicles during the reporting period, compared with 3.515 million 2009; representing an increase of approximately 19%. During the year the company launched ten new models, one of which was the Nissan LEAF - the company's first zero emission, electric car.

China was the driving force behind Nissan's growth, with an increase in sales/demand of 36% compared with 2009. The European and US markets increased by 19% and 17% respectively, while Japanese sales actually declined by 5%.

The devastating Japanese earthquake in March 2011 had some impact on the company's manufacturing operations; however the majority of its sites were back online by 18th April.

CEO and President of Nissan, Carlos Ghosn, commented: "Fiscal year 2010 was a record year for Nissan in terms of sales and growth. Our recovery efforts were effective, and new models launched in the second half - including the all-electric Nissan LEAF - boosted our brand and sales power in the world's major markets."

Author: Lee Marriott, Analyst