Nissan Motor Expects Drop in Annual Profit Due to Heightened Competition, Inflation

Nissan Motor reported a 5.2% decline in net profit for the three months ended March, reaching 101.3 billion yen ($651.3 million). This surpasses the estimated Y70.69 billion predicted by analysts. The company predicts a drop in fiscal-year net profit due to increased competition and high inflation. Nissan Motor’s performance reflects the challenges faced by the Japanese carmaker in the current market.