Japanese automaker Nissan reports 92% jump in profit as sales surge

Nissan’s profit for the fiscal year through March has jumped 92% to 426.6 billion yen, or $2.7 billion, as the Japanese automaker’s sales grew in all major global markets except China. Nissan reported Thursday annual sales surged nearly 20%. Quarterly profit edged down slightly, while quarterly sales rose 13%. Nissan hopes to maintain its leadership in electric vehicles in the Japanese market with its Ariya sports-utility vehicle. Nissan sold 3.44 million vehicles globally for the year, up from 3.3 million vehicles the year before. Nissan has said it will mass produce electric vehicles powered by next-generation batteries by early 2029, offering solid-state batteries in a range of models, including pickup trucks.