Nissan cuts profit forecast

Nissan cuts profit forecast

POSTED: Tuesday, November 6, 2012 - 8:00am

UPDATED: Tuesday, November 6, 2012 - 8:04am

Nissan Motor cut its full-year net profit forecast tuesday by a fifth to just below $4 billion. The Japanese automaker is blaming the cut on tumbling car sales in China, the world's biggest auto market.

Japanese goods took a big hit in China earlier this year after anti-Japanese protests broke out over a territorial dispute. Despite the poor outlook, Nissan says there are signs of recovery and they are optimistic about next year

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