Japan automaker Nissan's profit stumbles on China sales decline

Nissan has reported its profit sank in October-December to about half of what it earned in the same period the year before. Nissan, based in the port city of Yokohama, said Thursday that its profit in the last quarter was 29 billion yen ($195 million). Quarterly sales jumped nearly 10% for the maker of the Leaf electric car, Infiniti luxury models and Z sportscars. Nissan's chief financial officer, Stephen Ma, told reporters that market conditions were difficult in China, but U.S. sales remained strong. By region, Nissan expects vehicle sales to grow in the U.S., Japan and Europe, but not in China.