New Models Selling Well

Article Excerpt

NISSAN MOTOR CO. $20.37 (Nasdaq symbol NSANY; SI Rating: Above-average) (310-771-3111; www.nissanmotors.com; Shares outstanding: 2.3 billion; Market cap: $46.0 billion) reports that its sales rose 12.7% in the three months ended September 30, 2007, to $21.9 billion from $19.5 billion. (All figures in U.S. dollars.) Profits fell 26.8%, to $1 billion from $1.4 billion. However, the profit decline was largely due to a higher tax rate and less favorable one-time items in the latest quarter. Nissan’s focus on new models is now paying off, especially in the U.S. market. In October, U.S. sales rose 12.4% to 74,992 vehicles from a year earlier. Car sales rose 26.7% to 40,736 units in the month. Truck sales totaled 34,256 vehicles, rising 2.2% from 33,528 units. Nissan is still a buy. buy…