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Nissan reports $4.13B net income for 2012

The news for Nissan is good when it comes to the company's results for the 2012 financial year that ended on March 31. Even though the numbers were down in many of the world's major markets, increased sales in the US, Brazil and the Middle East, ten new models and a strong fourth quarter allowed Nissan to hit its target for the year and notch record sales of 4.914 million units globally. On net revenue of $116 billion, Nissan posted net income of $4.13 billion and an operating profit of $6.31 billion.
There are upward-looking projections for this year, Nissan forecasting a 7.8-percent jump in sales to 5.3 million units, with $117.89 billion in net revenue and $4.42 billion in net income. That net revenue number probably won't actually match what's reported next year, though, because Nissan is changing its accounting method and won't include revenue and operating profit results from its joint venture with China's Dongfeng. Net income doesn't change under the new method, but the adjusted net revenue forecast is $109.16 billion.
There's a press release and two videos below with more details for those of you who go gaga for annual reports.

Chinese-designed Nissan Lannia Concept debuts in Beijing

Nissan showed off a stylish new concept car to the assembled crowds of media at the Beijing Motor Show. The Lannia Concept is... well, it's not that easy to describe. It's kind of a sedan, only it looks a bit like a fastback from the rear. But for a twist, it has an ever-so-small rear deck. Regardless of how we'd classify it, it's a seriously sharp piece of styling, thanks to its unique shape and flowing character lines.
If the Lannia's styling appears familiar, it's because we've sort of seen it before. There's more than a little bit of inspiration from the Friend-Me Concept. The Lannia's overall shape is similar to the Friend-Me, while both the front and rear clips look decidedly more production ready. Considering this evolution, we shouldn't rule out a production Lannia in the next few years. And if Nissan's product boss, Andy Palmer is any indication, the new model might not be limited to China.
"It was designed by Chinese, built by Chinese for the Chinese people, and ultimately, for the world," Palmer said in a statement. If Nissan can keep this sharp styling, this could prove a compelling buy in a number of markets.

NYC Taxi of Tomorrow ruled legal by appeals court

The streets of New York City might be filling up with a lot more Nissans in the next few years. A New York appeals court ruled that the city's mandate to replace old taxis with a fleet entirely made up of the Nissan NV200 Taxi of Tomorrow was legal. The decision overturned a previous ruling that decided The Big Apple couldn't force cabbies to all purchase the same vehicle.
Justice David B. Saxe wrote the court's opinion saying the Taxi of Tomorrow is a "legally appropriate response to the agency's statutory obligation to produce a 21st-century taxicab consistent with the broad interests and perspectives that the agency is charged with protecting," according to Bloomberg. The Greater New York Taxi Association, the plaintiff in the case, could still possibly attempt a second appeal.
Nissan originally won the 10-year contract estimated to be worth about $1 billion in 2011, beating out Ford and a Turkish company. Under the Taxi of Tomorrow plan, all New York cabbies would have to switch to the NV200 within three of five years of the van going into service, and it would replace the 16 vehicles previously authorized as taxis. In 2013, the mandate received multiple challenges though, including an attempted ban by cab drivers because the replacement wasn't a hybrid. In a separate case, state Supreme Court judge Schlomo Hagler decided that there was nothing in the city charter that forced a taxi driver to choose a specific vehicle. This was the case that was just overturned. In the meantime, the automaker has been selling the NV200 to New York cabbies at prices around $29,700.