Wed, Jun 05, 2013 - Page 14 News List

Yulon forecasts profits will rise

By Camaron Kao  /  Staff reporter

Nissan and Infiniti car distributor Yulon Nissan Motor Co (裕隆日產) expects profits this quarter to rise sequentially due to stable car sales in China and foreign exchange gains from the declining yen, company vice president Leman Lee (李振成) said yesterday.

Lee made the remark at a launch ceremony for the Juke, a crossover between an SUV and a sports car. He did not offer exact numbers.

Last quarter, the company’s profit totaled NT$1.98 billion (US$66.16 million), or earnings per share of NT$4.27, up 95.04 percent year-on-year and 89.48 percent quarter-on-quarter.

Yulon Nissan owns 10 percent of China-based Dongfeng Nissan Passenger Vehicle Co (東風日產), which sold 100,000 cars last month, the same as a year ago, indicating that the dispute over the Diaoyutai Islands (釣魚台) in the East China Sea was no longer an issue for Chinese customers, Lee said.

Dongfeng Nissan’s sales helped the Taiwanese firm post non-operating profit of NT$1.27 billion last quarter, the company said.

Yulon Nissan aims to sell 43,800 cars in Taiwan this year, accounting for a market share of about 12 percent, chairman Tsay Wen-rong (蔡文榮) said yesterday.

Overall, Taiwan’s overall market will see sales volume drop to between 350,000 and 360,000 units this year, from 365,871 units a year ago, he said.

“Car sales from January through last month declined 3.8 percent from a year earlier, and there is no positive news except for new car launches later this year,” he said.

Yulon Nissan’s shares rose 1.93 percent to NT$290.

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