Nissan posts 34.6% decline in Oct-Dec profit 

(MENAFN) Nissan's CEO, Carlos Ghosn, announced that the carmaker's profit declined by 34.6 percent in 2012's October-December period from a year before to USD582 million, reported Gulf News.

Ghosn said that sales of the Japanese company fell by 5.3 percent, reaching USD23.8 billion in the quarter.

The automaker's global sales reached 1.16 million vehicles, representing a fall of 3.8 percent, as a result of sluggish demand in Europe and hard conditions in China.

In the 9 months to December, Nissan's net income dropped to USD2.50 billion, compared with USD2.87 billion a year before.

It is worth noting that Nissan's full-year profit forecast remained unchanged, at USD3.452 billion, due to a weakening yen and cost-cutting measures.