Morningstar•February 09, 2021Nissan Motor Co., Ltd.: Nissan's Turnaround Shows Progress in Q3, but Still Has Long Road Ahead; Maintain JPY 1,480 FVE
While Nissan sells about 4 million vehicles, the combined Renault-Nissan Alliance sells about 10 million, placing the alliance in the top three of all automakers in the world. Nissan's financial services subsidiary provides consumers with auto loans and leases. In addition, the subsidiary also finances Nissan's sales to its dealerships (known as floor-plan financing). Nissan is 43.4% owned by French automaker Renault, while Nissan in turn owns 15% of Renault. The Alliance also has controlling interests in AvtoVAZ (Lada) in Russia and Mitsubishi Motors in Japan.
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Richard Hilgert
Senior Equity Analyst
