Japanese automaker Nissan's profit plunged in the last quarter to less than half of what it was a year earlier as the COVID-19 lockdown in China and a global semiconductor shortage slammed production.
Nissan Motor Co. reported Thursday that its April-June net profit totaled 47.1 billion yen ($349 million), down from 114.5 billion yen in the same period of 2021. That change marks a 59% drop. Quarterly sales rose 6% 2.14 trillion yen ($15.9 billion).
