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Nissan Announces Profitability for First Time Since Chip Shortage Began

To say the last five years or so have been tumultuous for the Renault-Nissan Alliance would be the understatement of the century. But with their former CEO smuggled out of Japan to avoid jail time for financial crimes, new boss Ashwani Gupta has declared that Nissan is once again profit-positive.
Nissan 6 photos
Photo: Nissan
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Nissan first reported signs of profits on November 9th when they announced their July-September quarter revenue reports. These reports saw Nissan recoup losses they'd made earlier in the year and the year prior. All while a global microchip shortage all but brought the industry to its knees.

Yuri Kageyama of WHIO TV reports that quarterly sales are up 1% in Japan and the rest of Asia as a part of the report. Up 54.1 billion yen ($479 million) from last year. While it doesn't sound like much of an improvement, any trend in an upward direction can only be positive in a period where no one can accurately predict what the future of the auto industry has in store.

New CEO Ashwani Gupta began a formal speech on the matter by offering apologies for the supply chain disruptions that have seen car delivery times skyrocket. He also vowed not to fall back onto bad habits, which saw Nissan's disgraced ex-CEO Carlos Ghosn fall from a globally respected business tycoon to an internationally wanted financial criminal.

Gupta appeared optimistic that the upward trend the company he currently leads has steered towards will be sustainable and able to withstand whatever supply chain woes currently plague the industry at large, not limited to just the chip shortage.

Other vital components like magnesium and tire rubber have some experts on edge that the global car industry may soon be at a point of no return as far as its supply chain is concerned. For the time being, it appears Nissan is confident it will be able to brave the storm.
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