STORY: Japan's Nissan has forecast an increase in annual profit that beats analyst expectations.
The expected 5.5% rise is based on higher global sales.
But it also warned that intense competition and inflation challenges would continue.
The automaker expects only a small rise in vehicle sales in China - highlighting the difficulties it faces in the world's top auto market.
Instead it's counting on strong growth in North America to lift its performance.
Nissan sees operating profit coming in at $3.85 billion for the fiscal year - against analyst estimates of $3.7 billion.
It also expects foreign exchange moves to boost its annual results, helping to offset inflationary pressures.
This is brighter than the first three months of 2024; where operating profit came in far short of analyst expectations.
Looking forward, Nissan has forecast a 7.5% boost in global sales this financial year from the last.
Including an expected rise in North American sales of over 13%.
In China, Nissan sees a very small increase - after sales slumped by almost a quarter last financial year.
That's as Japanese car brands lose market value share in China to domestic rivals...
That are attracting drivers with a range of cheap, software-loaded electric vehicles.
