Nissan Sees Profits Fall

Nissan Motor Co. reports that its group operating profits have fallen 3% on the year for April-June. The company is making only $1.2 billion.  Only.

The dip in profits is attributed to a change in tastes by customers going for more fuel-efficient cars.

Sales were up 11% but tax payments were also up.

Global sales in units were up 6% to 875,000 units, up 3% to 256,000 in North America.

A weak yen boosted operating profits but higher materials costs weighed down those excesses.

Nissan still predicts sales to dip 2% fo the year

and operating profits to rise 3% to 800 billion ($6.5 billionish)…net profits will climb 4% to about $4 billion.

GM, Ford and DaimlerChrysler could only wish business were so bad for them.