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Nissan’s half year profits fall

Nissan has reported a 41% fall in its half-year profits after it was affected by the high value of the Yen.

Japan’s third-largest carmaker made a net profit of 126 billion yen (£803 million) between April and September, down from 212billion a year earlier, according to the BBC website.

Despite sales rising overall by 4.7%, Nissan said those in the US fell 3.4%.

Nissan chief executive Carlos Ghosn said the global financial and economic crisis has had a “profound effect” on every area of the industry.

Last week the carmaker said it would halt production of two models at its Sunderland plant due to falling demand caused by the economic downturn.

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