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Whenever sales in China come up, there is an echo somewhere: “Sure, but are they making money?” “Name the average transaction cost in China.” “Profits? Everbody know profits can’t be taken out of China.” Thanks for your concern, but Nissan doesn’t have these worries.
China has become the most profitable market for Nissan, said Carlos Ghosn at an industry event.
Ghosn said that Chinese sales for Nissan were 750,000 units in 2009 against 10,000 ten years ago.
“There is going to be a colossal growth in the world car stock between now and 2050,” Ghosn told Reuters. And where does he see the growth coming from? China, India and Latin America.
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Those profits are going out of China into Mr Ghosn’s pockets. According to BusinessWeek, Nissan’s 12 directors are making about $1.5m each… Honda and Toyota pay their directors between a third and a quarter of that amount. Guess which of those three firms was the least profitable last year?