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Nissan's profit more than doubles

Nissan Motor Co.'s January-March profit more than doubled to $941 million as the Japanese automaker achieved record sales despite production disruptions from last year's tsunami.

Nissan annual global sales reached a record 4.85 million vehicles, showing a remarkably quick recovery from the March 2011 earthquake that ravaged much of northeastern Japan, the Yokohama-based manufacturer said Friday.

Nissan, which makes the Leaf electric car, March subcompact and Infiniti luxury model, continues to be bullish -- expecting to sell 5.35 million vehicles this fiscal year, up 10 percent for another record.

It also raised its forecasts for the fiscal year through March 2013, to a $5 billion profit, up from its earlier forecast for $3.6 billion.

President and Chief Executive Carlos Ghosn said Nissan held up well in recent months amid serious hardships, including a slowdown in Europe, and was gearing up for more growth, banking on solid demand in China and other emerging markets.

Ghosn said Nissan plans to be the No. 1 Asian brand in China, Russia and India.

"Overall, it is going to be a good year for the industry," he told reporters, while noting that the soaring yen was a serious worry.

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