TOKYO (AP) — Nissan reduced its losses in the January-March quarter as restructuring efforts kicked in, despite damage to sales from the coronavirus pandemic, the Japanese automaker said Tuesday.
Nissan Motor Co.’s quarterly losses totaled 81 billion yen ($743 million), a fraction of the 710 billion yen in red ink it racked up last year. Quarterly sales rose to 2.5 trillion yen ($23 billion) from 2.3 trillion yen.
Nissan Chief Executive Makoto Uchida forecast a recovery in this fiscal year, which began April 1. All automakers have suffered because of the pandemic, although some have proved more resilient than others.
“Despite very harsh conditions, we are definitely moving in the right direction,” he said in an online news conference.