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Nissan beats 2Q expectations with $1.3b profit

Nissan reported its Q1 financial results through the April-June period, and Bloomberg reports that the Japanese automaker beat analyst expectations. The outlet averaged income estimates provided by 11 analysts to come up with a figure of 130.2 billion yen ($1.3 billion), while Reuters' analyst survey returned a estimate of 163 billion yen ($1.6 billion) in operating profit. Nissan easily beat them both with 152.8 billion in net income and 193.7 billion in operating profit. That profit number is up from 122.6 billion yen in the same quarter last year. The surge comes from increased US sales. June sales grew 13 percent, helping propel a 4.5-percent increase for the year so far and the best first-half calendar-year sales Nissan has had in ten years. Higher incentives have helped, as well as superheated Nissan Rogue sales; the crossover moved 99,302 units through the first six months of 2014, this year that number is 135,397, and observers expect its popularity to continue. In contrast to other automakers struggling with the slowdown in China, Nissan isn't doing so badly there. Growth rose by 5.7 percent in the first half of this year, a number that would have been larger but for depressed commercial vehicle sales because of the economy's slowdown. Nissan is sticking with its original targets, sure that government intervention and new models will hold the markets steady enough. The press release below has more information on the numbers. Nissan reports net income of $1.3 billion for first quarter of FY2015 Results for three months to June 30, 2015 (TSE report basis – China JV equity basis)* Acct - Q1 - Y-O-Y Net revenue - JPY2.90 trillion ($23.9 billion/ˆ21.6 billion) - +17.6% Operating profit - JPY193.7 billion ($1.6 billion/ˆ1.4 billion) - +58.0% Ordinary profit - JPY215.9 billion ($1.8 billion/ˆ1.6 billion) - +45.2% Net income** - JPY152.8 billion ($1.3 billion/ˆ1.1 billion) - +36.3% Based on average foreign exchange rates of JPY 121.4/USD and JPY 134.2/EUR YOKOHAMA, Japan , Jul. 29, 2015 – Nissan Motor Co., Ltd. today announced fiscal year first quarter financial results for the three months ending June 30, 2015. The company reported net revenue of $23.9 billion (2.90 trillion yen), an increase of 17.6% versus 2.47 trillion yen a year ago. Operating profit was $1.6 billion (193.7 billion yen), up from 122.6 billion yen, a 58.0% increase. Net income was $1.3 billion (152.8 billion yen), an increase of 36.3% versus 112.1 billion yen in the prior year.

Nissan recalls 320K Versas in North America for faulty springs

Following an investigation by the National Highway Traffic Safety Administration starting in May, Nissan is now recalling 319,507 examples of the 2007-2012 Versa in North America. Corrosion from road salt can potentially cause the cars' front suspension coil springs to snap. Specifically, the campaign covers 218,019 Versas in cold-weather US states: the District of Columbia, Connecticut, Delaware, Iowa, Illinois, Indiana, Kentucky, Massachusetts, Maine, Maryland, Michigan, Minnesota, Missouri, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Vermont, Virginia, West Virginia, and Wisconsin. In addition, there are 101,488 cars affected under this campaign in Canada, according to Nissan spokesperson Steve Yaeger to Autoblog. Nissan reports that a manufacturing issue by the supplier results in an "insufficient anti-corrosion coating" applied to the coil springs. Given enough time and exposure, this can lead to the part's fracturing. According to Yaeger, there are "no accidents or injuries related to this issue reported to Nissan." Owners of these Versas will get both front coil springs replaced, and Nissan will begin notifying them in November. It seems like perfect timing to avoid another winter of salt hitting them. Related Video: RECALL Subject : Front Coil Springs may Corrode , 1 INVESTIGATION(S) Report Receipt Date: SEP 14, 2015 NHTSA Campaign Number: 15V573000 Component(s): SUSPENSION Potential Number of Units Affected: 218,019 All Products Associated with this Recall Vehicle Make Model Model Year(s) NISSAN VERSA 2007-2012 Details Manufacturer: Nissan North America, Inc. SUMMARY: Nissan (Nissan North America, Inc.) is recalling certain model year 2007-2012 Nissan Versa vehicles manufactured May 8, 2006, to November 12, 2012, that were sold or ever registered in the District of Columbia, Connecticut, Delaware, Iowa, Illinois, Indiana, Kentucky, Massachusetts, Maine, Maryland, Michigan, Minnesota, Missouri, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Vermont, Virginia, West Virginia and Wisconsin. Road salt may corrode the front coil springs, possibly resulting in the coil springs fracturing. CONSEQUENCE: If a front coil spring fractures, it may contact the tire, possibly puncturing it, increasing the risk of a crash. REMEDY: Nissan will notify owners, and dealers will replace both front coil springs, free of charge. The recall is expected to begin by mid-November 2015.

Are you the next Nissan Frontier?

A reader of the Phillippine site Autoindustriya.com sent in what appear to be naked spy photos of the pickup that Nissan recently teased first in photo then in video. The shots, one taken from the front and one from the back, have been found on the Nissan Navara Club Thailand forum. The details in the two photos, one from the front and one from the back, match up with the details we can make out from the teaser video, lending credence to the idea that this is indeed the next Nissan Navara, which is essentially the Frontier in overseas markets. Nissan US has reportedly disavowed this as our next Frontier, though; the mysterious photo on Twitter was put there by Nissan Thailand, supposedly the location of these two trucks.
The only other detail submitted with the images is that there's a 2.5-liter turbodiesel under the hood putting out 187 horsepower and 332 pound-feet of torque, running through either a seven-speed automatic transmission or a six-speed manual. The reveal is scheduled for June 11, which is when we should know a lot more about the Navara and how much it is or isn't indicative of what we'll get with the next Frontier, a vehicle we're still not expecting for some time.