You might think this is bad, but Nissan claims that the full-year results were better than the forecast disclosed with the third-quarter financial results filing on February 9, 2009.
According to the company's press release, Nissan sold a total of 3,411,000 vehicles worldwide in fiscal year 2008, down 9.5%. In North America, sales were 1,133,000 units, down 16.2%; United States sales were 856,000 units, down 19.1%. In Japan, sales were 612,000 units, down 15.1%. In Europe, sales came to 530,000 units, down 16.7%. Sales in General Overseas Markets (GOM) were up 7.1% at 1,136,000 units, where China remains the only market to demonstrate growth.
"The global economic recession and financial crisis continue, but we are beginning to see some signs of improved access to credit, the impact of government stimulus packages and a gradual return in consumer confidence," said Nissan President and CEO Carlos Ghosn. "We remain cautious about the economic environment and fully focused on our company's recovery efforts."
Nissan expects things to worsen in 2009, as they forecast to sell 3.08 million units. The company's plans include the launch of eight all-new products: Pixo in Europe; Patrol in the Middle East; NV200, Fuga and a new mini in Japan; new global entry car in Asia; and G37 convertible and 370Z convertible in the United States.
"2009 will be another challenging year. Our priorities will be preserving cash, improving our profitability and pursuing deeper synergies within the Renault-Nissan Alliance," said Ghosn. "We are balancing short- and long-term objectives to manage through the crisis and to prepare for the future."
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