Nissan profit dives as Chinese boycott cars
Nissan Motor Co. suffered a 35 percent plunge in October-December profit to $579 million as global sales languished, especially in China, where anti-Japanese sentiment flared over a territorial dispute.
Quarterly sales dipped 5.3 percent from a year earlier to $23.5 billion, Yokohama-based Nissan said Friday. Nissan's earnings fell short of the $652 million profit forecast by a FactSet survey of analysts.
All the Japanese automakers have reported sales declines in China, where a territorial dispute set off anti-Japanese riots and boycotts in the last months of 2012. A slowdown in Europe added to Nissan's woes. Nissan also struggled in the key U.S. market, which was booming for rival Toyota Motor Corp.