Japan's Nissan swings back to profit despite chips crunch

Japanese automaker Nissan has swung back into the black for the quarter through December, despite shortages of computer chips that have hit the entire industry

TOKYO -- Japanese automaker Nissan swung back into the black for the quarter through December, despite shortages of computer chips that have hit the entire industry and many other manufacturers.

Nissan Motor Co., allied with Renault SA of France, reported Tuesday a 32.7 billion yen ($284 million) profit for the fiscal third quarter, a reversal from the 37.8 billion yen loss racked up a year ago.

Quarterly sales slipped to 2.21 trillion yen ($19 billion) from 2.22 trillion yen.

Nissan Chief Operating Officer Ashwani Gupta said global auto markets had dipped 18% in volume due largely to the shortfall of computer chips resulting from disruptions linked to the pandemic. Nissan's sales dipped 16%, with strong sales of its Note compact in Japan and Pathfinder sport utility vehicle in the U.S.