Nissan (NSANF) now expects to sell 5.6 million vehicles worldwide in the financial year ending in March, down from an earlier forecast of more than 5.9 million. Net profit is likely to come in at 410 billion yen ($3.7 billion), nearly 20% below the previous prediction.
The company blamed the gloomy outlook on difficulties in the United States and Europe, two of its biggest markets. Profits in the most recent quarter were also hit by a charge relating to payments to its former controversial chairman.
The company is trying to "improve its brand value" and become more competitive in the United States, CEO Hiroto Saikawa said at a news conference Tuesday.
"China is kind of plateauing or in a lull, but in the long term, the market is going to grow," Saikawa said.
Nissan's third-quarter results reflected the fallout from the Ghosn scandal.
Nissan said Tuesday it has booked a charge of 9.2 billion yen ($83 million) related to payments to its former chief.
The alliance "is a great asset and has great value," he said. Doing away with it "is not something we're thinking about at all."